Parson, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.8% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
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 Parson, British Columbia is exhibiting steady growth as indicated by the year-over-year increases in property values. The median house price currently stands at $525,000, marking a 4.2% increase from the previous year. Similarly, the median apartment price has risen to $315,000, with a slightly more modest year-over-year growth of 2.8%. These trends suggest a healthy demand for housing in the area.
The population of Parson has also experienced notable growth at a rate of 3.3%, bringing the current population to approximately 15,500 residents. This demographic trend further supports the increased housing demand and suggests that the market conditions are favorable for both sellers and buyers looking for long-term value retention.
Investment Opportunities and Potential
Investors considering Parson for real estate opportunities may find potential in various segments of the market. Given the steady appreciation in house and apartment prices, purchasing residential properties could yield considerable returns over time. The consistent population growth implies an ongoing need for housing, which could benefit landlords and real estate developers alike.
In addition to residential real estate, investors might explore commercial properties or land developments catering to this expanding community’s needs. As more people move to Parson, there will likely be increased demand for retail spaces, office buildings, and community services.
The town’s commitment to infrastructure and community development can also provide indirect benefits to property owners through enhanced accessibility and amenities, potentially driving up property values further.
Future Market Outlook
The outlook for Parson’s real estate market remains optimistic based on current trends and demographic data. Assuming that economic conditions remain stable and supportive of growth, it is reasonable to expect that housing prices will continue their upward trajectory.
The ongoing population increase should maintain or potentially elevate the demand for housing, making Parson an attractive market for both homeownership and investment. However, prospective investors should monitor local economic drivers such as employment rates and industry developments that could influence future market conditions.
Fostering sustainable growth through thoughtful urban planning and community engagement will be critical in ensuring that Parson remains a desirable location for both existing residents and newcomers seeking opportunities in this picturesque region of British Columbia.
