Doyles, 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 | 0.7% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.0% |
Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $385,000 |
3 bedrooms | $495,000 |
4 bedrooms | $610,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $245,000 |
2 bedrooms | $345,000 |
3 bedrooms | $450,000 |
Demographics
Current Population (2025) | 15,200 |
Previous Population (2020) | 14,800 |
Population Change | 2.7% |
Total Private Dwellings | 6,200 |
Occupied Private Dwellings | 5,700 |
Population Density (per km²) | 1.7 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Doyles, Newfoundland and Labrador, is currently experiencing a steady increase in property values. With the median house price at $495,000, there has been a year-over-year growth of 3.2%. Similarly, the apartment sector is showing a positive trend with a median price standing at $295,000 and an annual increment of 2%. This growth pattern signals a healthy demand for housing in the area.
The population of Doyles has risen to 15,200, with a growth rate of 2.7%. The increasing population suggests potential for further expansion in housing demand. Current trends indicate that both the residential housing and apartment markets are on an upward trajectory, making it an opportune time for buyers to secure properties before prices escalate further.
Investment Opportunities and Potential
Investors looking into the Doyles real estate market will find promising opportunities for both short-term gains and long-term appreciation. The consistent increase in property values presents potential for capital gains on future resales. Rental properties also offer attractive prospects due to the growing population and demand for housing; investors could benefit from stable rental income streams.
The moderate increase in apartment prices suggests that there is room for growth in this sector, especially as more people may seek affordable housing options. As such, investing in apartments could be particularly beneficial for those aiming to cater to renters who cannot afford higher-priced homes or prefer the flexibility of apartment living.
Future Market Outlook
The future outlook for Doyles’ real estate market remains optimistic given current trends and demographic shifts. Assuming economic conditions remain stable, the consistent population increase should continue to drive demand for housing. The ongoing growth patterns suggest that investing now could result in substantial returns over time.
However, potential investors should monitor local economic indicators and development plans closely as these factors can significantly impact future property values and rental market dynamics. Thorough analysis and strategic investment decisions will be crucial to capitalize on Doyles’ real estate market potential.