Farron, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.9% |
| Stock on market | 0.7% |
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 | $450,000 |
| 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 | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Farron, British Columbia is currently experiencing modest growth. With a median house price of $520,000, the market has seen a year-over-year increase of 2.9%. Similarly, the median apartment price stands at $310,000, with a slightly lower year-over-year growth of 2.5%. These statistics suggest a stable market with consistent appreciation in property values.
The area’s population has grown by 3.3%, indicating a healthy demand for housing driven by an increasing number of residents. The current trends show that the housing market is keeping pace with population growth, maintaining equilibrium between supply and demand.
Investment Opportunities and Potential
Farron’s steady growth in both property values and population presents robust investment opportunities. The consistent appreciation in housing prices suggests that investments in residential properties are likely to yield positive returns over time. Moreover, the ongoing population increase implies a sustained or growing demand for rental properties, which could benefit investors interested in the rental market.
Given the more modest price point of apartments and their 2.5% year-over-year price growth, investors may find this segment of the market particularly attractive for both purchase and rent strategies. Lower entry costs and strong rental demand can lead to significant yield potential for those investing in apartments.
Future Market Outlook
The future outlook for Farron’s real estate market remains optimistic based on current trends and data. The steady economic indicators and continued population growth are likely to support ongoing demand for housing. Assuming no major economic disruptions occur, Farron’s real estate market seems poised for continued moderate growth.
Investors should monitor local economic developments, as well as national and global factors that could affect interest rates and borrowing costs. Nonetheless, given the current data points, Farron’s real estate market appears to offer a stable environment with potential for long-term capital appreciation and rental income.
