Rolla, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.9% |
Apartment
| Median price | $310,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
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 (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| 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 in Rolla, British Columbia
In Rolla, British Columbia, the real estate market is currently experiencing a period of moderate growth. With a median house price of $520,000 reflecting a year-over-year increase of 4%, it is evident that the market is on an upward trajectory. Similarly, apartments in the area are also witnessing growth, albeit at a slightly slower pace with a median price of $310,000 and a 2.5% increase from the previous year.
The population of Rolla stands at 15,200 residents, having grown by an impressive 4.8%. This rapid population growth suggests a rising demand for housing, which could be contributing to the steady appreciation in property values. Additionally, this demographic expansion may also indicate robust economic conditions that support real estate investments.
Investment Opportunities and Potential in Rolla
For investors considering Rolla’s real estate market, there are promising opportunities especially given the current trends. The consistent rise in property values points towards strong investment potential for both residential homes and apartments. Single-family homes, represented by the median house price data, show more significant appreciation and could offer higher long-term returns.
Apartment investments also present an attractive proposition due to their lower entry price point and growing demand among smaller households or those seeking more affordable housing options. The growth rate for apartments indicates a stable but less aggressive investment opportunity compared to houses.
Investors should also note that Rolla’s increasing population may lead to greater rental demand, potentially resulting in favorable rental yields and low vacancy rates. This demographic trend can be particularly beneficial for those looking to invest in multi-unit residential buildings or develop new housing projects.
Future Market Outlook for Rolla
The future market outlook for Rolla’s real estate appears optimistic based on current trends and data. The strong population growth rate is expected to continue fueling housing demand which may lead to further property value increases. However, potential investors should remain aware of broader economic factors and regional developments that could impact the market dynamics.
If the local economy continues to thrive and support the burgeoning population, Rolla’s real estate market may see sustained growth over the coming years. Nonetheless, it is crucial for investors to conduct thorough due diligence and keep abreast of any changes in local policies or economic conditions that could influence market performance.
In summary, Rolla offers compelling investment opportunities with its growing population and ascending property values. A cautious yet proactive approach to investing could yield positive results in this active real estate market.
