Lillooet, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 4.0% |
| Stock on market | 1.0% |
Apartment
| Median price | $310,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.5% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $430,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,300 |
| Previous Population (2020) | 15,000 |
| Population Change | 2.0% |
| 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 in Lillooet, British Columbia
In Lillooet, British Columbia, the real estate market is currently experiencing a steady growth pattern. The median house price stands at $520,000, with a year-over-year increase of 4%. This indicates a healthy appreciation in property values, suggesting that the housing market is robust and steadily gaining in value. Likewise, the median apartment price has reached $310,000 and has seen a slower yet consistent year-over-year growth of 2.5%. Such trends point toward a balanced demand for both houses and apartments in the area.
The local population of approximately 15,300 has been growing at a rate of 2% per annum. This demographic trend contributes positively to housing demand and supports the ongoing property value appreciation observed in the market data. With a steadily increasing population, demand for housing is likely to continue, which could maintain or even push prices upward.
Investment Opportunities and Potential in Lillooet
Lillooet’s rising property values coupled with its population growth suggest promising investment opportunities. The consistent increase in housing prices indicates that investments made today have the potential for capital gains over time. The current trends also reveal that Lillooet is not experiencing an explosive price surge, which might appeal to investors seeking stable markets with lower risks of significant corrections.
Given the modest yet steady appreciation rates for both houses and apartments, investors may find opportunities in both segments of the market. Rental properties could be particularly attractive due to population growth fueling rental demand. Furthermore, as infrastructure develops to support the growing population, additional real estate sectors such as retail and commercial spaces may present further investment potential.
Future Market Outlook for Lillooet’s Real Estate
Looking ahead, Lillooet’s real estate market appears poised for continued growth. The consistent rise in property prices is expected to persist if the current economic conditions remain stable. Population growth will likely remain a key driver of demand for residential real estate; thus, new developments and expansions could emerge as an area of focus for investors.
Investors should pay close attention to local economic developments and policies that could impact future market conditions. Factors such as employment rates, infrastructure projects, and interest rates will play significant roles in shaping Lillooet’s real estate landscape. However, given current trends and data points, the outlook remains positive with reasonable expectations for steady market performance.
It is advisable for investors to monitor regional factors closely while considering long-term investment strategies based on sound market analysis and prudent risk assessment.
