Duntara, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 2.4% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,000 |
| Population Change | 5.1% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Duntara, Newfoundland and Labrador is currently experiencing moderate growth. The median house price stands at $485,000, with a year-over-year increase of 4%. This indicates a steady appreciation in home values, suggesting a healthy demand for housing in the area. Meanwhile, the median apartment price is $295,000, having risen by 2.4% from the previous year. The slower growth rate in apartment prices compared to houses may reflect a market that has more demand for single-family homes or could indicate a saturation of the apartment market.
Duntara’s population of 15,200 is on the rise as well, having grown by 5.14% recently. This influx of residents can be seen as a contributing factor to the increased demand for housing and the corresponding rise in property values.
Investment Opportunities and Potential
The positive trends in Duntara’s real estate market suggest considerable investment potential. The steady growth in housing prices points to a stable market with the possibility of continued appreciation. Investors interested in long-term capital gains might consider purchasing residential properties, especially single-family homes which are appreciating at a higher rate than apartments.
The rising population is also likely to boost rental demand, creating opportunities for investors looking to enter the buy-to-let market. Given that new residents may initially seek rental accommodation before purchasing property, investors could benefit from an increase in rental yields before potentially selling properties as values increase over time.
Future Market Outlook
The future outlook for Duntara’s real estate market appears cautiously optimistic. Assuming that current trends continue, such as population growth and economic stability, the region can expect further gradual increases in property values. However, investors should remain aware of broader economic factors that might affect Newfoundland and Labrador’s economy, including employment rates and industry performance, as these will indirectly impact real estate markets.
In summary, while there are no guarantees in real estate investment, Duntara’s market data indicates a region with solid fundamentals for both short-term rental strategies and long-term capital growth investments. Continued monitoring of market conditions is advised to maximize investment decisions.
