Lakeview, 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 (2025) | 15,000 |
Previous Population (2020) | 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 in Lakeview, British Columbia
Lakeview’s real estate market is currently experiencing stable growth, as evidenced by the moderate increase in property prices. The median house price stands at $500,000, reflecting a solid year-over-year growth of 3.5%. This suggests a healthy demand for single-family homes in the area. Similarly, the median apartment price has reached $300,000, with a slower growth rate of 2.1% year-over-year. This could indicate a softer but consistent demand for more affordable housing options such as apartments.
The population of Lakeview has reached 15,000 residents, with an impressive growth rate of 7.1%. This robust population increase is likely contributing to the steady demand for housing in the community and may continue to drive property values upwards as the supply struggles to keep pace with the burgeoning demand.
Investment Opportunities and Potential in Lakeview
With its consistent price appreciation and significant population growth, Lakeview presents attractive investment opportunities. Investors looking at long-term capital gains may find the single-family home segment particularly appealing due to its stronger growth trend. The market for apartments also offers potential, especially for investors aiming to cater to younger professionals or smaller households who seek more affordable living spaces.
The continuous inflow of new residents implies that rental properties could be an advantageous avenue for investors seeking steady cash flow. Given the current trends, both rental yields and property values are likely to remain on an upward trajectory, providing dual income streams through both rental income and capital appreciation.
Future Market Outlook for Lakeview
The future market outlook for Lakeview remains optimistic based on current trends. Assuming no major economic shifts occur, the real estate market is expected to maintain its gradual upward movement in prices. Population growth will continue to be a driving factor for this optimism as demand for housing follows suit.
As more people move into the area, there may be increased opportunities for development projects aimed at expanding housing options. However, it is crucial for investors and developers alike to monitor local zoning laws and community plans to align their projects with sustainable growth strategies.
It is also important to consider external economic factors such as interest rates, employment rates, and regional economic development initiatives that can have an impact on local real estate markets. Investors should keep abreast of these broader trends while maintaining focus on Lakeview’s specific market indicators for informed decision-making.