Calvert, 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 | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $565,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 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
1. Current Market Conditions and Trends
The Calvert real estate market is currently experiencing a steady increase in property values, with the median house price now standing at $485,000, reflecting a year-over-year growth of 3.2%. Similarly, the apartment sector is showing resilience with a median price of $295,000 and a growth trend of 2.5% over the same period. These figures indicate a healthy and appreciating real estate market.
The population of Calvert has grown to 15,200, boasting an increase of 2.7%. This demographic trend suggests a rising demand for housing which contributes to the upward pressure on property prices.
2. Investment Opportunities and Potential
The growth trajectory in Calvert’s property market presents various investment opportunities for both residential and commercial properties. The consistent rise in median house and apartment prices indicates a robust investment potential for long-term capital gains. Investors could benefit from the increasing demand driven by population growth which may lead to higher rental yields for both houses and apartments.
Additionally, with the region’s positive economic indicators, there may be untapped potential in developing multi-family units or entering into the rental market to cater to those who cannot afford to buy homes outright due to the high median house price.
3. Future Market Outlook
The future outlook of Calvert’s real estate market appears optimistic given the current trends and demographic data. Assuming that the population continues to grow at a similar or accelerated rate, demand for housing is likely to remain strong, potentially pushing prices upward. However, investors should also keep an eye on economic factors such as employment rates and local industry performance as they can significantly impact market stability.
The local government’s urban development plans and infrastructure projects could also play a vital role in shaping the future real estate landscape, thus offering additional investment opportunities or affecting existing ones.
In conclusion, while current trends point towards a robust market with continued growth potential, it is important for investors to conduct thorough due diligence and consider local economic indicators when making investment decisions in Calvert’s real estate market.
