Bayview, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| 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 | $495,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,100 |
| 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 Bayview, Newfoundland and Labrador, is experiencing a period of steady growth. With a median house price of $495,000, the market has seen a year-over-year increase of 3.2%. This suggests a healthy demand for single-family homes in the region. Similarly, apartments are also seeing growth with a median price of $295,000 and a 2.5% year-over-year price trend. These figures indicate a consistent but moderate upward trend in property values across different types of residential real estate.
The population of Bayview is currently at 15,500 and has grown by 3.3%, which may be contributing to the increased demand for housing. The combination of population growth and rising property prices points to robust market conditions that have remained resilient in the face of broader economic uncertainties.
Investment Opportunities and Potential
The steady increase in property values coupled with ongoing population growth presents attractive investment opportunities in Bayview’s real estate market. Investors might consider both single-family homes and apartment units as viable options for rental properties or long-term capital gains.
Given the current trends, investors can potentially expect continued appreciation in property values. The growth rate for houses outpaces that of apartments, which may suggest a greater potential for return on investment in the single-family home sector. However, apartments offer a lower entry point into the market, which could be particularly appealing to first-time investors or those looking to diversify their portfolios with smaller investments.
Future Market Outlook
The future outlook for Bayview’s real estate market remains optimistic given the positive indicators from both market conditions and demographic trends. Assuming that the local economy continues to support job creation and attract residents, there is potential for further expansion within the housing market.
The sustained population growth will likely continue to drive demand for housing, which should support both rental markets and property value appreciation. As long as these trends persist—moderate yet consistent growth in population and housing prices—Bayview’s real estate market should remain an appealing destination for both homeowners and investors alike.
It is important for stakeholders to monitor economic factors that could influence consumer confidence and interest rates as they can affect affordability and investment attractiveness. Nonetheless, based on current data, Bayview presents a stable environment with promising prospects for those interested in entering or expanding within the real estate market.
