Boswarlos, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 0.7% |
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 (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| 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
The real estate market in Boswarlos, Newfoundland and Labrador, is showing steady growth with a median house price currently sitting at $485,000, reflecting a 3% year-over-year increase. This suggests a stable housing market that is slowly appreciating in value. Similarly, the median apartment price has reached $295,000, accompanied by a slightly lower but consistent growth rate of 2.5% year-over-year. The population of Boswarlos stands at 15,200 residents and has experienced a healthy growth rate of 2.7%. The combination of rising property values and population growth indicates an ongoing demand for housing within the region.
Investment Opportunities and Potential
The current trends offer promising opportunities for real estate investors in Boswarlos. With house prices appreciating at a steady rate, investment in residential properties could yield favorable returns over time. The apartment market also presents potential for investors looking for more affordable entry points into the real estate market, with a moderate appreciation rate ensuring that investments remain attractive. Considering the population growth, there is likely to be sustained demand for both rental and owner-occupied properties, suggesting that rental properties could also provide stable income streams for investors.
Future Market Outlook
The future outlook for the Boswarlos real estate market appears optimistic. The consistent increase in property values coupled with population expansion suggests that this upward trend is likely to continue. As the local economy adapts to accommodate the growing populace, it’s reasonable to expect that both employment opportunities and infrastructure development will follow suit, further bolstering the real estate market. Investors considering entering or expanding in Boswarlos’s market should do so with an eye on long-term gains as the area’s economic fundamentals point towards a robust and resilient housing sector.
