Farron, 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 Farron, British Columbia, currently presents a stable environment with consistent growth. The median house price stands at $500,000, marking a year-over-year increase of 3.5%. This indicates a healthy demand for single-family homes, likely driven by the area’s attractive amenities and quality of life. The apartment sector is also showing positive trends, with the median apartment price at $300,000 and an appreciation rate of 2.1% over the past year.
Given Farron’s moderate population of 15,000 residents and a notable population growth rate of 7.1%, housing demand is expected to remain robust. This growth can be attributed to the influx of new residents seeking the balance between rural charm and urban convenience that Farron offers.
Investment Opportunities and Potential
The steady growth in property values across both houses and apartments suggests that Farron is ripe for real estate investment opportunities. Investors could potentially benefit from capital gains due to the upward trend in property prices, as well as from rental income in a market with increasing population figures.
Residential properties, given their higher appreciation rate, may offer more significant long-term growth potential compared to apartments. However, apartments should not be overlooked as they could provide more accessible entry points into the market for new investors or those with less capital.
The ongoing population growth suggests a sustained or increasing demand for rental properties. This demographic shift positions Farron as an attractive market for investors looking to expand their rental portfolios or enter the market with relatively low risk.
Future Market Outlook
The future real estate market outlook for Farron appears optimistic based on current trends and data. Should the population continue to grow at its current pace or faster, housing demand is likely to keep up, further pushing property values upward.
In addition to demographic factors, economic indicators such as employment rates, local business growth, and infrastructure development will play crucial roles in shaping the future market landscape. Prospective investors are advised to monitor these aspects closely when considering long-term investments in Farron’s real estate market.
In summary, Farron’s real estate market presents a promising outlook for both homeowners looking to accumulate equity and investors seeking profitable opportunities. Vigilance regarding economic conditions combined with strategic investment decisions could result in substantial returns over time.
