Parson, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Parson, British Columbia, is currently experiencing modest growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market shows steady appreciation. Similarly, the apartment sector has seen a 2.1% growth with the median price standing at $300,000. These figures suggest a healthy demand for housing in the area.
The population of Parson has grown by 7.1% to reach 15,000 residents. This robust population growth is a positive indicator for real estate demand, as it often correlates with increased need for housing and services. Additionally, this trend might be attracting investors and homebuyers looking for areas with potential for economic expansion and real estate value appreciation.
Investment Opportunities and Potential
The consistent growth in housing prices coupled with the significant population increase positions Parson as an attractive destination for real estate investment. The stable appreciation rates suggest that investments in both houses and apartments could yield positive returns due to capital gains over time.
Given the current market trends, investors might also consider exploring opportunities in new residential developments or renovation projects to cater to the growing population’s housing needs. Furthermore, the rental market could offer potential given the influx of new residents who may be seeking temporary accommodation before committing to homeownership.
Future Market Outlook
Looking ahead, Parson’s real estate market appears poised for continued growth. The persistent rise in population indicates an ongoing need for additional housing which could support sustained appreciation of property values. If current trends persist—moderate price increases and strong population growth—the market outlook remains positive.
However, prospective investors and homeowners should consider broader economic factors such as interest rates, employment rates, and regional economic policies that might impact the local real estate market’s performance. Maintaining vigilance on these external factors will be crucial for those looking to capitalize on Parson’s real estate opportunities in the long term.
