Rossland, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $475,000 |
Demographics
| Current Population (2024) | 15,400 |
| Previous Population (2019) | 15,000 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Rossland, British Columbia, is currently experiencing a period of growth. With a median house price sitting at $525,000, the market has seen a respectable year-over-year increase of 4%. The median apartment price also shows a positive trend, currently at $310,000 with a more modest year-over-year growth of 2.5%.
This steady growth can be attributed to Rossland’s increasing popularity among homebuyers and investors seeking value in smaller cities. The town’s population has been growing at a healthy rate of 2.7%, bringing the current population to approximately 15,400 residents. This influx is likely driving demand for housing in both the purchase and rental markets.
Investment Opportunities and Potential
The consistent climb in property values indicates a stable investment climate for those considering entering the Rossland real estate market. Single-family homes, with their higher year-over-year appreciation rate compared to apartments, represent particularly appealing opportunities for long-term capital gains.
In addition to sales, the rental market is poised for growth given the population increase. Investors can potentially benefit from acquiring properties to cater to renters who may not be ready or able to enter the homeownership market. The ongoing demand could lead to favorable rental yields alongside property value appreciation.
Future Market Outlook
The future outlook for Rossland’s real estate market remains optimistic. The sustained population growth suggests that demand for housing will continue, potentially leading to further increases in property prices and investment returns. However, potential investors should remain vigilant about economic factors that could affect interest rates and affordability.
The town’s appeal as an outdoor recreation destination adds to its attractiveness as a place to live and invest. Assuming that these local characteristics persist alongside broader economic stability, Rossland’s real estate market should maintain its upward trajectory for the foreseeable future.
