Argentia, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
Median price | $490,000 |
Monthly growth | 1.1% |
Quarterly trend | 3.2% |
Stock on market | 0.7% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.0% |
Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $490,000 |
4 bedrooms | $580,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $340,000 |
3 bedrooms | $430,000 |
Demographics
Current Population (2025) | 15,250 |
Previous Population (2020) | 14,500 |
Population Change | 5.2% |
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 Argentia, Newfoundland and Labrador is currently experiencing a period of steady growth. With a median house price of $490,000, the market has seen a year-over-year increase of 3.2%. This indicates a healthy upward trend in property values, suggesting that the market is robust with demand consistently outstripping supply. Similarly, the median apartment price stands at $295,000, which has risen by 2% from the previous year.
The population growth rate of 5.2% is also contributing to the demand for housing in Argentia. A growing population often leads to increased demand for both rental and owner-occupied properties. The current trends suggest that Argentia’s real estate market is dynamic with potential for further growth, driven by both local factors and broader provincial economic conditions.
Investment Opportunities and Potential
Investment opportunities within the Argentia real estate market appear promising. The consistent rise in property values coupled with solid population growth indicates a strong potential for capital gains on long-term investments in both residential houses and apartments. For investors looking to enter the rental market, the increasing population could mean a larger pool of potential tenants and potentially higher rental yields.
Given the current growth rates, residential properties offer an attractive opportunity for investors aiming at mid- to long-term appreciation. Additionally, as more people move into the area, there may be opportunities to invest in new developments or refurbish existing properties to cater to changing consumer tastes and needs.
Future Market Outlook
Looking forward, the future market outlook for Argentia remains optimistic. Assuming current economic conditions persist and no major external shocks affect the market negatively, we can expect continued growth in property values. The established trend of rising house and apartment prices is anticipated to carry on due to sustained population increases and ongoing demand for housing.
However, prospective investors should keep an eye on economic indicators such as employment rates, interest rates, and regional economic policies that could impact the real estate market’s trajectory. Furthermore, attention should be given to infrastructure developments within Argentia that could enhance its appeal as a residential location and thus further stimulate property value increases.