Arras, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $310,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Arras, British Columbia, the real estate market is experiencing a moderate but steady increase in property values. The median house price in the area now stands at $520,000, reflecting a year-over-year growth of 4%. This trend indicates a healthy demand for single-family homes and a robust housing market. Meanwhile, apartments are also seeing an appreciation in value, with the median price reaching $310,000 and a slightly lower annual price trend of 2.5%.
The population of Arras has grown to approximately 15,500 residents, with a notable growth rate of 3.3%. This demographic expansion underpins the increased demand for housing in the region. The positive correlation between population growth and real estate demand suggests that the upward trend in property values may continue as more people move to the area.
Investment Opportunities and Potential
The consistent rise in property values coupled with steady population growth positions Arras as an attractive locale for real estate investment. Single-family homes, given their higher appreciation rate, present compelling opportunities for investors seeking capital gains.
Apartments offer a more accessible entry point into the market due to their lower median price point. With a year-over-year increase of 2.5%, they are a viable option for investors looking for long-term income through rental properties or more modest capital appreciation.
The ongoing development within Arras suggests that there may be further opportunities in commercial real estate or land development projects catering to the growing community’s needs. Investors should monitor zoning changes and infrastructure improvements which can signal new growth areas.
Future Market Outlook
The future market outlook for Arras remains optimistic based on current trends and underlying demographic factors. Should the population continue to grow at or above the current rate, demand for housing is likely to remain strong. This should support continued appreciation in property values across all sectors of the market.
However, investors must also consider economic variables such as employment rates, local industry performance, and interest rates which can impact buyer affordability and influence market conditions.
In conclusion, Arras presents as a stable market with potential for both short-term gains through resale and long-term investment through rental income. Careful analysis of specific neighborhoods and property types will be essential for maximizing returns on investment in this dynamic British Columbia housing market.
