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Benton, Newfoundland and Labrador Real Estate Market Data

Updated: Nov 2024

House

Median price $500,000
Monthly growth 1.2%
Quarterly trend 3.5%
Stock on market 0.8%

Apartment

Median price $300,000
Monthly growth 0.9%
Quarterly trend 2.1%
Stock on market 1.2%

Prices by Number of Bedrooms

Houses

Bedrooms Median Price
2 bedrooms $400,000
3 bedrooms $500,000
4 bedrooms $600,000

Apartments

Bedrooms Median Price
1 bedrooms $250,000
2 bedrooms $350,000
3 bedrooms $450,000

Demographics

Current Population (2025) 15,000
Previous Population (2020) 14,000
Population Change 7.1%
Total Private Dwellings 6,000
Occupied Private Dwellings 5,500
Population Density (per km²) 1.5
Land Area (km²) 2,500.5

Market Analysis






Benton, Newfoundland and Labrador Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Benton, Newfoundland and Labrador is currently experiencing moderate growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%, indicating a healthy demand for single-family homes. The median apartment price sits at $300,000, with a slower growth rate of 2.1% year-over-year. This differential suggests that houses are in higher demand compared to apartments, which may be due to the preference for more space or the perception of houses as longer-term investments.

The town’s population has grown by 7.1%, bringing the total to approximately 15,000 residents. This growth can be attributed to Benton’s increasing appeal as a residential community with its natural beauty and developing amenities. The influx of new residents could continue to fuel demand in the housing market.

Investment Opportunities and Potential

Considering the steady increase in property values and population growth, Benton presents several promising investment opportunities. The rising trend in house prices suggests that investing in residential real estate could yield favorable returns over time. Apartments, while growing at a slightly lower rate, still offer potential for investors looking for long-term income through rentals, especially if targeting the increasing number of newcomers seeking more affordable housing options.

Additionally, as the population continues to grow, there may be opportunities for development projects that cater to the needs of a larger community, including multi-residential complexes and commercial real estate to support local businesses.

Future Market Outlook

The future outlook for Benton’s real estate market remains optimistic. Population growth is likely to persist as more individuals and families are attracted to the area’s lifestyle offerings. This demographic shift should underpin continued demand for housing across various sectors of the market.

The consistent rise in property values indicates a stable investment climate with ongoing potential for capital gains. However, investors and homebuyers should monitor economic factors such as employment rates and regional development plans that could affect market dynamics.

Overall, Benton’s real estate market appears positioned for sustained growth, provided that current trends continue and potential economic challenges are navigated successfully.