Beachside, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.3% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $335,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,600 |
| Population Change | 4.1% |
| 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
In Beachside, Newfoundland and Labrador, the real estate market is currently experiencing a period of steady growth. The median house price stands at $485,000, reflecting a year-over-year increase of 3.3%. This indicates a sustained demand for houses in the area, likely driven by several factors, including lifestyle preferences and population growth.
Apartments in Beachside are also seeing an upward trend in prices, with the median apartment price now at $295,000, which has grown by 1.9% over the past year. This more modest increase suggests that while there is interest in multi-family units, the market for apartments is not as heated as the single-family home sector.
The population of Beachside stands at 15,200 residents with a strong growth rate of 4.1%. Such an increase in population is typically a positive indicator for real estate demand, suggesting that the current upward trends in property values may continue.
Investment Opportunities and Potential
The robust population growth coupled with positive pricing trends indicates that Beachside holds attractive investment opportunities. Investors might focus on single-family homes due to their higher appreciation rates but should not overlook apartments, which could cater to segments of the population seeking more affordable or smaller living spaces.
The ongoing demand for housing suggests potential for both rental and resale markets. With careful consideration of location within Beachside and analysis of specific neighbourhood trends, investors could capitalize on areas with higher than average growth rates or those poised for future development.
Future Market Outlook
The future market outlook for Beachside’s real estate looks promising based on current data. Assuming consistent population growth and economic stability within Newfoundland and Labrador, we can expect continued appreciation of property values. The sustained 3.3% increase in house prices and 1.9% rise in apartment prices point towards a stable investment climate.
However, it’s important to remain aware of broader economic factors that could impact this local market such as employment rates, interest rates, and regional development plans. Monitoring these will be key to understanding any shifts in the market dynamics that could alter the current positive outlook.
