Appleton, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 14,500 |
| Population Change | 6.9% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Appleton, Newfoundland and Labrador, is currently experiencing a period of steady growth. With a median house price of $485,000, the market has seen a year-over-year increase of 4%. This indicates a healthy demand for single-family homes in the region. The market for apartments is slightly less robust yet still growing, with a median apartment price of $295,000, which has risen by 2.5% compared to the previous year.
Appleton’s population of 15,500 residents has grown by 6.9%, suggesting a burgeoning community that is attracting new residents and possibly driving housing demand. The inflow of new residents could be due to various factors such as economic opportunities, lifestyle preferences or regional developments that make Appleton an attractive place to live.
Investment Opportunities and Potential
The steady market appreciation observed in Appleton provides a promising environment for real estate investment. The consistent uptick in housing prices indicates strong potential for capital gains over time. Single-family homes present a particularly attractive investment opportunity given the higher rate of appreciation at 4% year-over-year.
Moreover, the notable population growth implies an increasing demand for rental properties, making buy-to-let investments potentially lucrative. Investors should consider the current market dynamics and the likelihood that the influx of new residents will maintain or increase the demand for both rental and owner-occupied properties.
Future Market Outlook
The future outlook for Appleton’s real estate market remains positive. Assuming current trends continue, investors and homeowners can anticipate ongoing increases in property values. The sustained population growth serves as a key indicator of the market’s buoyancy and suggests that demand will persist.
The local economy and broader economic conditions will play crucial roles in shaping the future housing market. Investors should monitor these factors closely to make informed decisions. However, based on available data, Appleton’s real estate market is poised for continued growth, offering promising opportunities for stakeholders.
