Englee, 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 | 0.7% |
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 | $410,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $325,000 |
| 3 bedrooms | $410,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| 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 Englee, Newfoundland and Labrador, has been exhibiting steady growth as evidenced by the increase in median house prices by 4% year-over-year, bringing the current median to $485,000. The apartment sector is also experiencing growth, with a more modest year-over-year increase of 2.5%, setting the median apartment price at $295,000. This indicates a healthy demand in the housing market, which could be attributed to the robust population growth of 3.4%, significantly higher than the national average.
Investment Opportunities and Potential
With a growing population that currently stands at 15,000 residents, Englee’s real estate market presents enticing investment opportunities. The consistent appreciation in house and apartment prices suggests a stable environment for long-term investments. Rental properties are likely to be in demand as the population continues to rise, offering potential for investors to capitalize on rental income along with property value appreciation.
Future Market Outlook
The future outlook for Englee’s real estate market remains optimistic. The ongoing population growth implies a continuing demand for housing which may lead to further increases in property values over time. However, potential investors should also consider economic factors such as employment rates, local industries’ health, and infrastructure developments when evaluating the sustainability of these trends for long-term gains.
