Arras, 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 Arras, British Columbia, is currently experiencing steady growth. With a median house price of $500,000 and an annual price increase of 3.5%, the market is showing resilience and a positive trend in property values. Similarly, the median apartment price stands at $300,000, with a year-over-year increase of 2.1%. The consistent growth in property values is indicative of a stable market that is attracting interest from both homeowners and investors alike.
Arras’s population has grown by 7.1%, reflecting the area’s increasing demand as more people seek to move to this region. This population growth can be linked to the area’s appeal due to its amenities, quality of life, or potential economic opportunities.
Investment Opportunities and Potential
Given the current market dynamics in Arras, there are several investment opportunities for potential buyers. The steady increase in property prices suggests that purchasing real estate in this area could yield returns over time due to capital appreciation. The robust population growth also signals a growing rental market, which could benefit investors looking to acquire properties to lease.
For individuals interested in residential investments, the single-family home segment shows promising trends with the median house price rising consistently. Meanwhile, apartments offer a more affordable entry point into real estate investment in Arras and may appeal to those seeking to cater to professionals or small families who prefer the convenience of apartment living.
Future Market Outlook
The future real estate market outlook for Arras looks optimistic given the current trends. The consistent growth in property values across both houses and apartments points towards a sustainable upward trajectory. Provided that the local economy remains stable or improves, and the population continues to grow at a healthy rate, it is reasonable to expect that these trends will persist.
In conclusion, while no market is without risk, Arras presents several compelling reasons for potential investment consideration. Its growing population and steady housing value increases suggest that with careful research and prudent investment strategies, there is potential for successful real estate ventures in this community.
