Dunville, 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 | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
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 (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| 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 a period of moderate growth. The median house price stands at $485,000, which reflects a steady year-over-year increase of 4%. This increment indicates a stable demand for housing in the area. Meanwhile, the median apartment price is slightly more modest at $295,000, having risen at a slower pace of 2.5% over the past year.
This difference in price dynamics between houses and apartments could be indicative of a market that favors single-family homes, which are potentially seen as more desirable or valuable in the region. Additionally, with a growing population of 15,500 that has increased by 3.3%, there is an expanding base of potential homebuyers and renters fueling the market.
Investment Opportunities and Potential
The real estate market in Dunville presents several attractive opportunities for investors. The consistent growth in property values coupled with the steady population increase suggests that demand for housing will continue to rise. For investors looking to purchase residential properties, the stronger performance of houses compared to apartments may signal a better long-term appreciation potential.
Moreover, the ongoing population growth is likely to drive demand for rental properties. This could make investment in multi-unit residential buildings particularly appealing, especially considering the more modest increase in apartment prices. The rental market may provide a good balance of cash flow and equity growth over time.
Future Market Outlook
Looking ahead, there are several factors that point towards a positive outlook for the Dunville real estate market. The solid trend of population growth is expected to sustain demand for both buying and renting properties. Given that the housing prices have been rising at a healthy rate without any signs of overheating, it appears that the market is on a sustainable growth path.
Continued economic development and community investments can further fortify this outlook, potentially attracting more residents and boosting property values over time. Assuming these conditions persist, Dunville’s real estate market should remain robust for both homeowners looking to build equity and investors seeking profitable opportunities.
