Ellison, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $515,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $305,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $515,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Ellison, British Columbia is currently experiencing a steady climb, with the median house price standing at $515,000, which marks a 3.2% year-over-year increase. This growth indicates a healthy demand for housing in the area, possibly driven by Ellison’s desirable living conditions and economic prospects.
The market for apartments is also showing positive momentum. The median apartment price is at $305,000, with a slightly lower but still positive price trend of 2.5% year-over-year. The simultaneous growth in both segments of the market suggests balanced development and investment interest across different types of residential properties.
The population of Ellison has reached approximately 15,500 residents, with a robust growth rate of 3.3%. This growth can be attributed to both natural factors and migration, as people are attracted to the area for its quality of life and employment opportunities.
Investment Opportunities and Potential
The steady increase in property values coupled with consistent population growth presents promising investment opportunities in Ellison. The real estate market shows resilience and potential for capital appreciation, particularly in the housing sector where the year-over-year price increment exceeds that of apartments.
Investors might consider leveraging these dynamics by acquiring properties that cater to the diverse needs arising from the growing populace. This includes single-family homes, townhouses, and apartments suitable for various demographics, from young professionals to families.
Moreover, rental properties could benefit investors due to increasing demand driven by new residents before they purchase their own homes. As the population continues to rise, so does the potential rental income from such investments.
Future Market Outlook
The future market outlook for Ellison’s real estate appears optimistic. Barring any unforeseen economic events or shifts in local policies, the current trends suggest a continuation of gradual growth. The persistent upswing in median property prices reflects a stable environment that encourages long-term investment.
The positive population trajectory implies ongoing demand for housing which should sustain property value appreciation. Additionally, as more people move to Ellison seeking its high quality of life and job opportunities, there will likely be increased development activity to meet residential and commercial needs.
In conclusion, investors looking for stable markets with growth potential should consider Ellison’s real estate landscape favorably. With careful analysis and strategic asset selection, there are opportunities to capitalize on both immediate returns through rental income and long-term gains through property value increases.
