Dildo, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $480,000 |
| 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 | $420,000 |
| 3 bedrooms | $480,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Dildo, Newfoundland and Labrador is currently experiencing a period of steady growth. The median house price stands at $480,000, reflecting a sustainable year-over-year increase of 4%. This trend indicates a healthy demand for housing in the area, coupled with a market that is appreciating at a moderate pace, which is beneficial for both homeowners and potential buyers looking for long-term value.
The apartment sector shows a slightly lower growth rate, with the median apartment price at $295,000 and an annual appreciation of 1.9%. This suggests that while apartments are also gaining value, they are doing so at a more conservative rate compared to houses. This could be due to a variety of factors including demand dynamics or a larger inventory of apartments.
With a population of 15,000 and a growth rate of 3.4%, Dildo is also experiencing demographic expansion. The population increase likely contributes to the demand for housing and can be seen as an underlying driver of the current market conditions.
Investment Opportunities and Potential
Dildo offers promising investment opportunities given its steady housing market growth. Investors should consider both residential homes and apartments as viable options. Houses present an opportunity for higher capital gains due to their stronger appreciation trend, while apartments may appeal to investors seeking rental properties, especially if they cater to individuals or smaller households who might prefer more affordable living spaces.
The continual population growth suggests that rental demand is likely to remain strong, providing investors with the potential for stable rental income. Additionally, the slower appreciation rate in the apartment market could allow investors to enter the market at a lower price point while still participating in the overall community’s growth.
Future Market Outlook
The future market outlook for Dildo remains positive. Given the steady population growth and consistent increase in property values, it is reasonable to expect these trends to continue in the near term. While external economic factors can affect any real estate market, Dildo’s current trajectory suggests resilience and potential for ongoing growth.
In terms of residential real estate investment, continued vigilance on economic indicators such as employment rates, interest rates, and regional development projects will be crucial for assessing long-term sustainability. However, assuming stable local economic conditions persist, Dildo’s real estate market should continue to offer attractive opportunities for homeownership and investment well into the future.
