Ymir, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Ymir, British Columbia is currently experiencing steady growth. With a median house price of $500,000, the market has seen an increase of 3.5% year-over-year. This indicates a healthy demand for single-family homes and a robust market for sellers. Similarly, the median apartment price is set at $300,000, with a slower yet positive price trend of 2.1% year-over-year. The population of Ymir stands at 15,000 and has been growing at a substantial rate of 7.1%, further fueling housing demand.
Investment Opportunities and Potential
The trends in Ymir’s real estate market suggest that investment opportunities are ripe. The consistent rise in property values coupled with the significant population growth positions Ymir as a desirable location for both residential and rental property investments. Single-family homes represent a stable investment with their higher appreciation rate, while apartments offer investors an entry point into the market at a lower cost. Given the town’s population increase, there is potential for both long-term capital gains and rental income streams as more people look for housing in this region.
Future Market Outlook
The future outlook for Ymir’s real estate market remains optimistic. Population growth is likely to continue driving demand for housing, putting upward pressure on both house and apartment prices. Assuming economic conditions remain favorable and no major policy changes occur, investors can expect ongoing appreciation in property values. With the current trends, it wouldn’t be surprising to see continued, moderate growth in the median prices for houses and apartments in the coming years. Investors should monitor local developments closely, such as infrastructure projects or changes in local industry, which could further impact the market dynamics.
