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Brigus, Newfoundland and Labrador Real Estate Market Data

Updated: Nov 2024

House

Median price $489,000
Monthly growth 1.1%
Quarterly trend 4.0%
Stock on market 0.6%

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 $425,000
3 bedrooms $489,000
4 bedrooms $575,000

Apartments

Bedrooms Median Price
1 bedrooms $240,000
2 bedrooms $330,000
3 bedrooms $420,000

Demographics

Current Population (2025) 15,400
Previous Population (2020) 15,000
Population Change 2.7%
Total Private Dwellings 6,300
Occupied Private Dwellings 5,800
Population Density (per km²) 1.6
Land Area (km²) 2,500.5

Market Analysis






Brigus, NL Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Brigus, Newfoundland and Labrador is currently experiencing steady growth. The median house price stands at $489,000, which represents a year-over-year increase of approximately 4%. This consistent growth trend suggests a healthy demand for housing in the area. Similarly, the median apartment price has seen a rise to $295,000, marking an increase of 1.9% year-over-year. These figures point to a gradually appreciating market across different housing types.

The population of Brigus has grown to 15,400, with a notable growth rate of 2.67%. This demographic expansion is contributing to the demand for housing and supporting the upward trend in property values. Given the current trends, the market is characterized by moderate but steady appreciation rates, suggesting that it is in a stable condition with potential for continued growth.

Investment Opportunities and Potential

Given the steady appreciation rates in both house and apartment prices, Brigus presents several promising investment opportunities. The ongoing population growth indicates potential for rental demand, making the purchase of apartments particularly attractive for those looking to enter the rental market. Moreover, investors can expect capital gains over time based on the consistent upward trend in property values.

With median house prices significantly higher than that of apartments, investors might find more accessible entry points into the market through apartment acquisitions. However, single-family homes should not be overlooked as they offer the potential for higher yields in the long term due to their stronger price appreciation.

The investment climate is further bolstered by Brigus’s stable economy and growing population, which contribute to a resilient real estate market with limited volatility compared to larger urban centers. This presents a favorable environment for both first-time investors and seasoned professionals seeking sustainable growth opportunities.

Future Market Outlook

The future outlook for Brigus’s real estate market remains optimistic. With continued population growth projected at a healthy rate of 2.67%, it is expected that housing demand will persist, thereby supporting property values. The consistent year-over-year increases in median prices suggest that this incremental growth pattern will continue.

In light of these factors, including economic stability and demographic trends, Brigus is likely to maintain its trajectory of moderate yet reliable growth in property values over the coming years. Investors can look forward to both short-term rental income prospects as well as long-term capital appreciation when considering properties within this market.

Overall, while no market is without risk, current indicators point towards a positive future outlook for real estate investments in Brigus. Stakeholders should stay informed on local development plans and economic policies that could impact market dynamics moving forward.