Lund, 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 | $310,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
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 | $470,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Lund, British Columbia, the real estate market is currently experiencing modest growth. The median house price stands at $525,000, which represents a year-over-year increase of 4%. This indicates a healthy uptrend in housing values, reflective of a growing demand for residential properties in the area. In contrast, the median apartment price is $310,000, with a slightly lower year-over-year growth rate of 2.5%. This suggests that while apartments are appreciating in value, the market for single-family homes is more dynamic and may be driving the overall real estate market growth in Lund.
Investment Opportunities and Potential
Considering the steady increase in property values, Lund presents several attractive investment opportunities. The consistent growth in housing prices indicates a resilient market that could benefit long-term investors looking for capital appreciation. Additionally, with a population growth rate of 2.7%, there is potential for increased rental demand which could make buy-to-rent properties particularly appealing. Given that the population is on an upward trend, investors may also explore opportunities in developing new residential units or renovating existing ones to cater to the growing community’s needs.
Future Market Outlook
The future market outlook for Lund’s real estate appears positive. The ongoing population increase of 15,200 residents and a growth rate of 2.7% suggests an expanding local economy and a rising demand for housing. Assuming current trends continue, coupled with Lund’s natural appeal and lifestyle offerings, it’s reasonable to anticipate sustained or potentially increasing property value growth rates in both the housing and apartment sectors.
In conclusion, Lund’s current real estate trends and demographic dynamics suggest an optimistic outlook for investors and homeowners alike. The key will be monitoring these trends closely to swiftly adapt to any changes that might occur in this active market.
