Lavington, 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
The real estate market in Lavington, British Columbia is currently experiencing moderate growth. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This steady growth indicates a healthy demand for houses in the area. On the other hand, the apartment sector shows a slightly slower pace with the median apartment price set at $300,000 and a year-over-year trend increasing by 2.1%. This suggests that while apartments are appreciating in value, they are doing so at a more conservative rate than houses.
Investment Opportunities and Potential
Lavington’s real estate market offers promising investment opportunities due to its consistent growth patterns. The solid increase in house prices suggests that investing in residential properties could yield favorable returns. The slower but positive growth in apartment values also presents an opportunity, especially for investors looking for lower entry points into the market. Additionally, with a population growth of 7.1%, there is potential for increased rental demand, which may benefit investors focused on income-generating properties.
Future Market Outlook
The future outlook of Lavington’s real estate market appears optimistic. Given the strong population growth of 7.1%, it is likely that demand for housing will continue to rise, potentially pushing property values higher over time. This demographic expansion can lead to further infrastructure development and an influx of new amenities and services, thereby attracting more residents and investors alike. However, as with any investment, potential changes in economic conditions, interest rates, and housing policies should be monitored closely as they can significantly impact market dynamics.