Armstrong, 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 (2025) | 15,000 |
| Previous Population (2020) | 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 Armstrong, British Columbia, is currently experiencing a steady increase in property values. With the median house price sitting at CAD $500,000, the market has seen a year-over-year growth of 3.5%. This consistent rise indicates a healthy demand for residential properties in the area. Similarly, the apartment sector is also showing positive momentum with a median price of CAD $300,000 and a 2.1% price increase from the previous year.
This upward trend is supported by Armstrong’s growing population, which has recently expanded by 7.1%, suggesting a burgeoning demand for housing as more people are drawn to the region. The combination of population growth and rising property values suggests that Armstrong’s real estate market is in an appreciating phase, making it an attractive prospect for homeowners and investors alike.
Investment Opportunities and Potential
For investors considering Armstrong’s real estate market, there are several opportunities ripe for exploration. The sustained growth in house prices reflects a strong market with potential for capital gains over time. Investment in single-family homes appears particularly promising given their higher appreciation rate compared to apartments.
Apartments offer another viable investment route with a slightly lower entry price point and a steady 2.1% annual appreciation. This segment may appeal to those looking to tap into the rental market or seeking more affordable investment options while still benefiting from property value increases.
Given Armstrong’s significant population growth, there is also potential for development projects aimed at addressing the increasing housing demand. New residential developments or renovations of existing properties could meet the needs of new residents and contribute to revitalizing local neighborhoods.
Future Market Outlook
Looking forward, the future outlook for Armstrong’s real estate market appears optimistic. The consistent increase in both house and apartment prices signals ongoing stability and confidence in the market. If current trends persist alongside population growth, it is likely that Armstrong will continue to see property values appreciate.
However, investors should remain aware of broader economic factors that could influence market conditions such as interest rates, employment rates within the region, and national economic health. Monitoring these variables will be crucial for forecasting long-term trends accurately.
In summary, Armstrong’s real estate market demonstrates strong fundamentals with positive growth indicators that suggest both short-term stability and long-term appreciation potential. Investors and homebuyers should consider this an opportune time to engage with the market while keeping an eye on macroeconomic factors that could affect future performance.
