Blaketown, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.6% |
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 | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,000 |
| Population Change | 5.7% |
| 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 in Blaketown, Newfoundland and Labrador
In Blaketown, Newfoundland and Labrador, the real estate market has been exhibiting steady growth. The median house price currently stands at $485,000, which marks a 3.2% year-over-year increase. This uptick suggests a stable demand for housing in the area, with prices reflecting a healthy real estate ecosystem.
Similarly, the apartment sector is experiencing positive momentum, with the median apartment price reaching $295,000, alongside a 2.5% year-over-year growth. The parallel progression in both housing types indicates a balanced appreciation across different segments of the market.
The local population has grown to 15,200 residents, showing a significant 5.7% growth rate. This demographic expansion underpins the increasing demand for housing and supports the observed price trends. The sustained population influx is likely contributing to heightened real estate activity and competitive market conditions.
Investment Opportunities and Potential in Blaketown
The current market dynamics in Blaketown present appealing investment opportunities. The continuous rise in median house and apartment prices signals robust capital appreciation potential for investors seeking long-term gains. With property values appreciating at moderate rates of 3.2% for houses and 2.5% for apartments annually, investments can benefit from steady growth without the volatility seen in more fluctuating markets.
The town’s burgeoning population also plays a crucial role in investment potential. A growing populace often translates to increased rental demand, suggesting that rental properties could offer consistent returns. Additionally, investors might explore development opportunities to cater to the housing needs of the expanding community.
Future Market Outlook for Blaketown Real Estate
The future outlook for Blaketown’s real estate market remains optimistic based on current trends and demographic indicators. Assuming that the population continues to grow at or near the current rate of 5.7%, demand for housing should remain strong. This demographic trend could spur further development and potentially accelerate property value increases.
Given that the local market has been moving upward without signs of overheating—the growth rates are substantial yet sustainable—there is cautious optimism that this trend will persist into the near future. As long as economic conditions remain favorable and no major policy shifts occur that negatively impact the housing market, Blaketown’s real estate is poised for continued growth.
Investors are encouraged to monitor local economic developments, infrastructure investments, interest rates, and employment trends closely as these factors will play integral roles in shaping the future market landscape of Blaketown’s real estate.
