Davidsville, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.4% |
| Stock on market | 0.9% |
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 | $425,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $625,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,500 |
| Population Change | 3.4% |
| 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 Davidsville, Newfoundland and Labrador, is currently experiencing steady growth. With a median house price of $495,000 and an annual increase of 3.4%, the housing market is showing resilience and upward momentum. This growth rate indicates a healthy demand for housing in the area. Similarly, the median apartment price is $295,000, with a slightly lower growth trend of 2.5% year-over-year. This suggests that while the market for apartments is growing, it is doing so at a more modest pace than houses.
Davidsville’s population has grown by 3.4%, which could be contributing to the increased demand for housing. The alignment of population growth with housing price increases indicates a balanced expansion where supply and demand are growing proportionately.
Investment Opportunities and Potential
The steady increase in property values presents appealing investment opportunities in Davidsville. The consistent rise in house prices, along with substantial population growth, suggests that there will be ongoing demand for residential properties. Investors looking to purchase rental properties may find apartments particularly attractive due to their lower price point and the potential for rental income.
Furthermore, as the population continues to grow, there may be opportunities for new development projects that cater to the increasing demand for housing. Both residential and commercial investors should consider Davidsville as an emerging market with significant long-term potential.
Future Market Outlook
Looking forward, the real estate market in Davidsville appears poised for continued growth. Given the current trends and population expansion, we can anticipate further increases in property values over the next few years. If the local economy remains stable and continues to support job creation, it is likely that both housing demand and investment interest will sustain their upward trajectory.
However, investors should remain aware of broader economic factors that could impact interest rates and borrowing costs, potentially affecting buyer affordability. Monitoring these indicators closely will be key to making informed decisions about entering or expanding within Davidsville’s real estate market.
