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Longworth, British Columbia Real Estate Market Data

Updated: Nov 2024

House

Median price $510,000
Monthly growth 1.3%
Quarterly trend 3.7%
Stock on market 0.9%

Apartment

Median price $315,000
Monthly growth 0.8%
Quarterly trend 2.3%
Stock on market 1.1%

Prices by Number of Bedrooms

Houses

Bedrooms Median Price
2 bedrooms $420,000
3 bedrooms $510,000
4 bedrooms $610,000

Apartments

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

Demographics

Current Population (2025) 15,200
Previous Population (2020) 15,000
Population Change 1.3%
Total Private Dwellings 6,050
Occupied Private Dwellings 5,600
Population Density (per km²) 1.6
Land Area (km²) 2,500.5

Market Analysis






Longworth, British Columbia Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Longworth, British Columbia is currently experiencing steady growth. The median house price stands at $510,000, which represents a 3.7% year-over-year increase. This uptick indicates a healthy demand for housing in the area, likely driven by the town’s amenities and quality of life.

In the apartment sector, the median apartment price has reached $315,000, with a more moderate 2.3% year-over-year growth rate. This suggests a stable market that is potentially more accessible to first-time homebuyers and investors looking for lower entry points into the real estate market.

The population of Longworth is currently around 15,200 residents, with a growth rate of 1.3%. This steady increase in population is contributing to sustained demand for housing, both for purchase and rent.

Investment Opportunities and Potential

In terms of investment opportunities, Longworth presents a promising landscape. Given the consistent growth in house prices coupled with the area’s population increase, investing in residential properties could yield substantial returns over time. Single-family homes, due to their higher year-over-year price increase, present an opportunity for greater capital appreciation.

Apartments offer a different kind of potential; their relatively lower prices and steady appreciation make them attractive for rental investments. With population growth outpacing new construction, rental demand is likely to remain strong, which may lead to an increase in rental yields over time.

Moreover, the current trends suggest that Longworth is experiencing sustainable growth rather than rapid inflation or a bubble, making it an attractive option for long-term investment strategies.

Future Market Outlook

The future market outlook for Longworth’s real estate appears positive. Continued population growth should support ongoing demand for housing. If current trends persist, both median house and apartment prices are expected to continue their gradual ascent.

Economic factors such as employment rates and local development projects could further influence the market positively. Investors and homebuyers should monitor these elements closely as they could accelerate growth beyond current projections.

However, it’s essential to approach the market with caution as external factors like interest rate changes or broader economic shifts can impact local real estate dynamics. Prospective buyers and investors should conduct thorough due diligence and consider working with local experts to navigate the market effectively.