Dunfield, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.3% |
| 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 | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Dunfield, Newfoundland and Labrador is currently experiencing a period of steady growth. With a median house price of $485,000, the market has seen an increase of 3.3% year-over-year. This suggests a healthy demand for single-family homes in the area. The apartment sector is also showing positive trends with a median price point of $295,000 and a year-over-year increase of 2.5%. The population of Dunfield has reached 15,200 residents, which marks a growth rate of 2.7%, further underscoring the increasing demand for housing in the region.
Investment Opportunities and Potential
Given the steady price appreciation in both housing and apartment sectors, Dunfield presents attractive investment opportunities. The consistent growth in property values indicates a strong potential for long-term capital gains for investors entering the market. Additionally, the population growth implies an ongoing need for rental properties, making it an opportune time for investors to consider expanding their portfolios with rental units to cater to this growing demand.
Future Market Outlook
The future market outlook for Dunfield remains positive based on current trends. The sustained increase in median house and apartment prices suggests that the market is likely to continue its upward trajectory. Population growth serves as a catalyst for further development and could potentially lead to increased housing demand. Investors and homeowners should monitor infrastructure developments and employment opportunities in the area, as these factors will play a significant role in shaping the real estate landscape in Dunfield.
