Argentia, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
Median price | $485,000 |
Monthly growth | 1.0% |
Quarterly trend | 3.2% |
Stock on market | 0.7% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 1.9% |
Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $430,000 |
3 bedrooms | $485,000 |
4 bedrooms | $550,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $320,000 |
3 bedrooms | $400,000 |
Demographics
Current Population (2025) | 15,500 |
Previous Population (2020) | 15,000 |
Population Change | 3.3% |
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 exhibiting steady growth. The median house price in the region stands at $485,000, marking a 3.2% increase year-over-year. This suggests a healthy demand for single-family homes, potentially driven by both local buyers and those looking to relocate to the area.
In contrast, the apartment sector is experiencing more modest growth. The median apartment price is currently $295,000, with a 1.9% rise year-over-year. This difference in growth rates between house and apartment prices may indicate a stronger market preference for detached homes, which could be influenced by lifestyle choices or demographic factors.
With a population of 15,500 that has grown by 3.3%, Argentia is witnessing demographic expansion that can contribute to increased housing demand. This population growth helps sustain the real estate market and signals potential for continued property value appreciation.
Investment Opportunities and Potential
Investors considering Argentia’s real estate market can find opportunities in several areas. The consistent growth in house prices points to stable investment potential in single-family homes. As the demand for houses seems robust, investing in residential properties could yield lucrative returns over time.
Despite slower growth in the apartment sector, the current median price presents an accessible entry point for investors looking to capitalize on rental properties or cater to those preferring lower-maintenance living arrangements. With targeted strategies, such as offering modern amenities or improving energy efficiency, apartments can attract tenants willing to pay a premium.
The positive population trend further enhances Argentia’s investment appeal. As more people move into the area, demand for various types of housing will likely increase, including rentals and purchases across all property types.
Future Market Outlook
The outlook for Argentia’s real estate market appears promising based on current trends and demographic data. Continued population growth should support the need for additional housing and may fuel further price increases if supply does not keep pace with demand.
Given the current trajectory of home price appreciation, it is reasonable to expect that property values will maintain an upward trend in the near future. However, economic factors such as employment rates, local industry performance, and interest rates will also play critical roles in shaping market conditions moving forward.
In conclusion, Argentia’s real estate market shows signs of health and potential for profitable investment opportunities. Stakeholders should monitor economic indicators closely while considering long-term strategies that align with ongoing demographic shifts to capitalize on emerging trends within the market.