Longworth, 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 Longworth, British Columbia, currently presents a stabilizing environment with a moderate growth pattern. The median house price stands at $500,000, marking a steady year-over-year increase of 3.5%. This increment reflects a healthy demand for single-family homes in the area, driven by local economic factors and demographic shifts.
In the apartment sector, the median apartment price has reached $300,000, accompanied by a slower yet consistent year-over-year growth of 2.1%. This suggests that multi-family dwellings are also experiencing an upward trend, albeit at a more modest pace compared to houses.
The population of Longworth has been experiencing robust growth, with an impressive rate of 7.1%. This significant increase in residents is indicative of the town’s growing appeal and could be contributing to the ongoing demand for housing within the region.
Investment Opportunities and Potential
The sustained growth in housing prices, combined with substantial population expansion, highlights Longworth as a promising area for real estate investment. Investors might find particular value in targeting single-family homes due to their stronger appreciation rates. The annual increase suggests that investments in this segment could yield favorable returns over time.
Apartments offer a different investment profile with their lower growth rate but potentially higher turnover due to rental demands. As Longworth continues to attract new residents, the demand for rental properties is likely to rise, making apartments an attractive option for investors focusing on rental income.
Furthermore, the extensive population growth opens possibilities for developing new residential projects or renovating existing properties to cater to the influx of new residents seeking modern and updated living spaces.
Future Market Outlook
The future real estate market outlook for Longworth remains optimistic. If current trends persist, we can anticipate continued gradual appreciation in property values across both houses and apartments. The population growth rate suggests that demand will remain strong, underpinning this positive trajectory.
Economic stability and potential infrastructure developments could further bolster market conditions. Potential investors and homeowners should monitor local economic indicators and municipal planning activities closely to make informed decisions about entering or exiting the market at opportune times.
In conclusion, Longworth’s real estate market shows signs of being a solid investment choice with its steady property value appreciation and remarkable population growth. Stakeholders should remain vigilant for changes in external factors that might influence future market dynamics.