Lytton, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $410,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2024) | 15,300 |
| Previous Population (2019) | 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 Lytton, British Columbia, the real estate market is presently characterized by a steady increase in property values. The median house price stands at CAD $495,000, reflecting a year-over-year growth of 4.2%. This growth rate indicates a healthy and stable market that is attractive to both homeowners and investors. In contrast, the median apartment price in Lytton is notably lower at CAD $295,000, with a more modest year-over-year appreciation of 1.9%. This slower growth rate for apartments may point to a higher demand for single-family homes in the area.
Investment Opportunities and Potential
For potential investors, Lytton’s real estate market offers promising opportunities. The consistent rise in house prices suggests that investing in residential properties could yield profitable returns over time. The difference in growth rates between houses and apartments also implies that single-family homes might be a more attractive investment option in this region. Furthermore, with a population of 15,300 that has grown by 2%, there is an expanding base of potential renters or buyers that could sustain the demand for housing in the future.
Future Market Outlook
The future outlook of the Lytton real estate market appears optimistic. With steady population growth and ongoing development in the region, demand for housing is likely to persist. Although current trends show moderate price appreciation, factors such as economic expansion, infrastructure improvements, or increased migration to the area could accelerate market growth. Investors and homebuyers should monitor local economic indicators and development plans closely as they can significantly impact real estate values.
