Davidsville, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $490,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 0.8% |
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 | $490,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $440,000 |
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
1. Current Market Conditions and Trends
The real estate market in Davidsville, Newfoundland and Labrador, is currently experiencing a steady growth in property values. The median house price stands at $490,000, showcasing a year-over-year increase of 3%. This consistent appreciation indicates a healthy demand for single-family homes in the region. Similarly, the median apartment price has reached $295,000, with a slightly lower growth rate of 2.5% year-over-year.
Such trends suggest that the Davidsville housing market remains robust with moderate but steady price increments. The current conditions are conducive for homeowners looking for long-term value retention and gradual equity build-up in their properties.
2. Investment Opportunities and Potential
Given the stable increase in property values and the burgeoning population growth rate of 3.33%, Davidsville presents as an attractive market for real estate investors. There is potential for both rental investments, due to population growth driving housing demand, and for flipping opportunities as house prices continue to rise.
The moderate increase in apartment prices may particularly appeal to investors focusing on affordable housing options for young professionals and smaller families. With a well-calibrated investment approach, individuals can capitalize on the long-term growth prospects offered by Davidsville’s real estate market.
3. Future Market Outlook
The future outlook of Davidsville’s real estate market appears optimistic due to several factors. The consistent increase in median house and apartment prices signals ongoing demand which is likely to persist given the positive population growth rate.
Moreover, as more people move to the area, drawn by employment opportunities or lifestyle choices, pressure on the housing supply could lead to further increases in property values over time. Investors and homeowners should monitor key economic indicators such as employment rates, infrastructure developments, and interest rates as they can affect consumer buying power and influence future market trends.
In conclusion, Davidsville’s real estate market holds promise for sustained growth. Stakeholders would benefit from staying informed about regional developments to make timely and strategic decisions within this dynamic housing landscape.
