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Lemoray, 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 0.6%

Apartment

Median price $315,000
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 $525,000
4 bedrooms $620,000

Apartments

Bedrooms Median Price
1 bedrooms $260,000
2 bedrooms $360,000
3 bedrooms $460,000

Demographics

Current Population (2025) 15,500
Previous Population (2020) 15,000
Population Change 3.3%
Total Private Dwellings 6,200
Occupied Private Dwellings 5,800
Population Density (per km²) 1.6
Land Area (km²) 2,500.5

Market Analysis





Lemoray, British Columbia Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Lemoray, British Columbia, is experiencing a period of growth. With a median house price currently at $525,000, the market has seen a solid year-over-year increase of 4%. This trend indicates a healthy demand for housing in the area, likely driven by the attractive features of Lemoray and its growing economy. The median apartment price stands at $315,000, with a slightly lower but steady appreciation rate of 2.5% year-over-year. These figures suggest a balanced expansion across different housing types.

Lemoray’s population has been increasing steadily with a growth rate of 3.3%, pushing the current population to 15,500. This demographic expansion contributes to the sustained demand for housing and could be a signal for potential supply constraints if new housing does not keep pace with demand.

Investment Opportunities and Potential

Given the positive trend in property values and consistent population growth, Lemoray presents several promising investment opportunities. For investors looking at long-term equity growth, single-family homes appear to be an excellent option due to their higher appreciation rate. The 4% increase in median house prices suggests that this segment of the market may offer stronger capital gains over time.

On the other hand, apartments represent an opportunity for those interested in entering the market at a lower price point or diversifying their investment portfolio. With an appreciation rate of 2.5%, apartments in Lemoray still offer potential for value increase and can be particularly attractive for rental investments due to ongoing population growth.

Future Market Outlook

The future outlook for Lemoray’s real estate market remains optimistic. Continuous population growth is expected to maintain demand for housing. The steady rise in property values indicates that the market is likely to continue on its upward trajectory in the medium term.

However, investors and homebuyers should monitor local economic factors and development plans that could influence supply and demand dynamics. Infrastructure improvements, job creation initiatives, and changes in interest rates are all elements that could impact future market conditions. Keeping abreast of these factors will be crucial for making informed real estate decisions in Lemoray.