Robson, 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 Robson, British Columbia is currently experiencing steady growth. With a median house price sitting at $500,000, the market has seen a year-over-year increase of 3.5%. This indicates a healthy level of demand for housing and a relatively robust economy driving the real estate values up. Similarly, the median apartment price has reached $300,000, which aligns well with the upward trend as apartments have seen a smaller yet consistent year-over-year price increase of 2.1%.
The current demand for housing is likely influenced by Robson’s population growth, which stands at a significant 7.1%. A growing population often signals greater demand for housing, both owned and rented, which can drive prices upwards. The region’s infrastructure development and economic opportunities may be contributing factors to this influx of residents.
Investment Opportunities and Potential
Given the steady price appreciation in both the housing and apartment markets, Robson offers promising opportunities for investors. The data suggests that purchasing residential property could yield a satisfactory return on investment through both rental income and capital appreciation over time.
The 7.1% population growth further underlines the potential for rental properties to meet the increasing housing demand. Additionally, investments aiming at the lower end of the market—especially in apartments—could capitalize on those unable or not wishing to enter the housing market immediately but still looking for quality living arrangements.
Long-term investors may find Robson particularly attractive given its consistent growth patterns, while short-term investors should remain cognizant of market fluctuations and keep an eye on local developments that could affect property values.
Future Market Outlook
The future real estate market outlook for Robson remains positive. Assuming current trends persist—moderate but steady population growth coupled with a continuous rise in property values—the region can expect further growth in property prices in both houses and apartments.
However, investors should monitor several factors that could impact this outlook: changes in interest rates, economic stability in British Columbia and Canada at large, and any shifts in local employment rates or major infrastructural changes. A proactive approach towards understanding these variables will be beneficial in maximizing investment potential and anticipating any market corrections.
In conclusion, Robson’s real estate market appears poised for continued growth, offering solid opportunities for both homeownership and investment. Careful analysis and strategic planning are recommended to leverage these trends effectively.
