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
1. Current Market Conditions and Trends
The real estate market in Lakeview, British Columbia, currently showcases a stable growth environment. With a median house price sitting at $500,000 and experiencing a year-over-year increase of 3.5%, the market reflects a steady demand for single-family homes. Simultaneously, the median apartment price has been recorded at $300,000, with a slightly slower growth rate of 2.1% year-over-year. This differential suggests that houses are in higher demand compared to apartments, potentially due to buyer preferences or demographic trends.
Lakeview’s population of 15,000 has risen by 7.1%, which is significantly above the national average, indicating a strong attraction to the area that could be linked to economic opportunities, lifestyle factors, or other local amenities. This population influx is likely contributing to the upward pressure on real estate prices as demand increases.
2. Investment Opportunities and Potential
The consistent growth in property values combined with substantial population increases presents a favorable environment for real estate investment in Lakeview. The current trajectory suggests that well-selected properties could benefit from continued appreciation. Moreover, the higher growth rate in house prices compared to apartments might hint at more substantial capital gains for investors focusing on single-family homes.
In addition to capital appreciation potential, the increasing population could also signal an opportunity for rental investments. As new residents look for housing, investors could meet this demand by offering rental properties, which may promise steady rental income streams alongside long-term value appreciation.
3. Future Market Outlook
The future market outlook for Lakeview appears positive based on current trends and data. If the population continues to grow at its current pace or higher, demand for housing is expected to remain robust. This sustained demand will likely continue to drive property values upward, although external economic factors such as interest rates and employment levels could modulate this growth.
Investors should monitor local developments closely, including infrastructure projects and changes in municipal policies that could impact the real estate market. However, given the current data and assuming no significant economic disruptions occur, Lakeview’s real estate market seems poised for continued healthy performance in both the short and medium term.
