Duntara, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| 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 | $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) | 15,100 |
| Previous Population (2020) | 15,000 |
| Population Change | 0.7% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.5 |
| 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 a period of steady growth. With a median house price of $485,000, the market has seen a 4% year-over-year increase, which indicates a stable upward trend in property values. Similarly, the median apartment price stands at $295,000, with a more modest growth rate of 2.5% year-over-year.
This consistent growth is reflective of Duntara’s broader economic conditions and its appeal to both local buyers and those from other regions seeking property in a less saturated market. The current trends suggest that the housing market is keeping pace with inflation rates and that there is continued demand for residential properties.
The population of Duntara has seen an increase of 0.7%, which could be contributing to the steady demand for housing. However, as population growth remains relatively low, the risk of an overheated market appears to be minimal at this stage.
Investment Opportunities and Potential
For investors considering entering the Duntara real estate market, the current conditions present several opportunities. The continuous growth in property values suggests that purchasing now could lead to potential capital gains in the medium to long term. Residential properties remain attractive due to the combination of rising prices and low interest rates.
Investors may also find value in looking at apartment units as rental investments given their lower entry price point compared to houses. With a 2.5% annual increase in apartment prices, these properties provide a more accessible option for investors seeking exposure to the real estate market without committing to higher-value investments.
Additionally, as the community grows, there may be opportunities for new development projects aimed at meeting the housing needs of an expanding population while offering investors chances for diversification within their real estate portfolios.
Future Market Outlook
The future outlook for Duntara’s real estate market remains cautiously optimistic. The trends indicate sustained growth which is expected to continue, albeit at a measured pace. As long as economic conditions remain favorable and population growth continues at its current rate or accelerates, demand for housing should remain stable or potentially increase.
However, it’s crucial for potential investors to consider external factors such as changes in interest rates, government housing policies, and broader economic shifts when forecasting future market performance.
In summary, while the trajectory looks promising based on current data, it’s essential for stakeholders to maintain an informed perspective on both local and national economic indicators that could impact the Duntara real estate market’s performance moving forward.
