Dunville, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
Median price | $500,000 |
Monthly growth | 1.2% |
Quarterly trend | 3.5% |
Stock on market | 0.8% |
Apartment
Median price | $300,000 |
Monthly growth | 0.9% |
Quarterly trend | 2.1% |
Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $400,000 |
3 bedrooms | $500,000 |
4 bedrooms | $600,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $250,000 |
2 bedrooms | $350,000 |
3 bedrooms | $450,000 |
Demographics
Current Population (2025) | 15,000 |
Previous Population (2020) | 14,000 |
Population Change | 7.1% |
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 Dunville, Newfoundland and Labrador, is currently experiencing steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%. This indicates a growing demand for residential properties in the area. Similarly, the median apartment price is $300,000, with a slightly lower growth rate of 2.1% over the same period. The population of Dunville stands at 15,000 residents and has seen a significant growth rate of 7.1%, which may be contributing to the increased housing demand and upward pressure on prices.
Investment Opportunities and Potential
The positive trends in the Dunville real estate market suggest that it holds considerable investment potential. The consistent increase in property values reflects an underlying strength in the market that could benefit long-term investors. Properties such as single-family homes are likely to continue appreciating in value due to consistent demand driven by the robust population growth. Apartments also present an attractive opportunity for investors looking to cater to smaller households or those seeking more affordable housing options. Given the current market trends, investing in rental properties could yield substantial returns due to an increasing population that may drive rental demand.
Future Market Outlook
Looking forward, the future outlook for Dunville’s real estate market appears optimistic. Assuming current trends persist, both property values and demand are likely to maintain an upward trajectory. The strong population growth serves as a key indicator of future housing requirements, suggesting that both residential sales and rental markets have room for expansion. However, potential investors should monitor economic factors that could influence migration patterns and employment rates within the region, as these will be critical in sustaining long-term growth. Local developments, infrastructure projects, and community investments can also impact future market conditions and should be considered when assessing Dunville’s real estate potential.