Calvert, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.9% |
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 | $495,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| 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 Calvert, Newfoundland and Labrador, currently presents a stable environment with modest growth. The median house price stands at $495,000, reflecting a year-over-year increase of 3.2%. This trend signifies a healthy demand for residential properties and indicates a consistent appreciation in property values. Similarly, the median apartment price has risen to $295,000, with a slightly lower growth rate of 2.5% year-over-year. These trends are supported by the area’s population growth of 3.3%, showing that Calvert is attracting residents and possibly benefiting from economic expansion or improved living conditions.
Investment Opportunities and Potential
The real estate market in Calvert offers promising investment opportunities, particularly in the residential sector. With both house and apartment prices experiencing steady increases, investors can potentially capitalize on continued property value appreciation. The consistent population growth suggests an ongoing demand for housing, which could lead to favorable rental markets for investors looking to purchase rental properties. Moreover, the gap between house and apartment prices may present diverse investment strategies, catering to different segments of the market from single-family homes to more affordable apartment units.
Future Market Outlook
Looking ahead, the future market outlook for Calvert appears positive. With both property values and the population on the rise, it is reasonable to anticipate that these trends will persist in the near term. The region’s ability to attract new residents could reinforce housing demand, potentially leading to further property value appreciation. Investors should monitor local economic indicators and development projects closely as they may significantly influence the trajectory of the real estate market. It will be important for stakeholders to stay informed about regional economic health and infrastructure investments that could impact Calvert’s attractiveness as a place to live and invest in.
