Appleton, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $499,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.9% |
| Stock on market | 0.6% |
Apartment
| Median price | $289,000 |
| 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 | $499,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $425,000 |
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) | 1.6 |
| 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 steady growth. The median house price in the region stands at $499,000, reflecting a modest year-over-year increase of 2.9%. This suggests a stable market with consistent demand. Similarly, the median apartment price is $289,000 with a slightly lower growth rate of 1.9% compared to houses. The population of Appleton has reached 15,300 residents with a growth rate of 2%, indicating a healthy increase that could continue to fuel housing demand.
Investment Opportunities and Potential
For investors looking to enter the Appleton real estate market, there are promising opportunities particularly in residential properties. The steady price growth for both houses and apartments indicates a balanced market where investment in rental properties could yield sustainable returns. Given the population growth rate, demand for rental units is likely to remain strong, potentially driving up rental yields over time. Additionally, the lower price point for apartments may attract first-time homebuyers or investors seeking more affordable investment options with lower entry barriers.
Future Market Outlook
The future outlook for the Appleton real estate market appears cautiously optimistic. Assuming that current economic conditions persist and population growth continues at its current pace or higher, we can expect further moderate increases in property prices and sustained demand. The 2% population growth suggests that the area is attracting newcomers who will require housing, thereby supporting the real estate market’s stability and potential for gradual expansion.
However, as with any market forecast, it is important to consider external factors such as economic policy changes, interest rates fluctuations, and broader provincial or national economic trends that might impact local real estate conditions.
