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 | 1.1% |
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) | 15,500 |
Previous Population (2020) | 15,000 |
Population Change | 3.3% |
Total Private Dwellings | 6,100 |
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, currently showcases moderate growth with the median house price sitting at $485,000, marking a year-over-year increase of 4%. The apartment sector is also experiencing growth, albeit at a slightly slower pace, with the median apartment price reaching $295,000 and an annual appreciation of 2.5%. Such trends indicate a stable market that is attracting home buyers and investors alike.
The population of Englee has grown by 3.3%, currently standing at approximately 15,500 residents. This demographic expansion contributes to the steady demand for housing in the area, which in turn supports property value appreciation.
Investment Opportunities and Potential
With consistent growth in both housing and apartment prices, Englee provides promising opportunities for real estate investors. The higher percentage increase in house prices suggests that single-family homes may offer better capital gains over time. However, apartments could be appealing for those looking to enter the market at a lower price point or to cater to individuals or smaller households who prefer more compact living spaces.
The positive population growth further enhances the potential for rental investments as new residents may initially seek rental accommodation. Investors could capitalize on this trend by securing properties that appeal to this segment of the market.
Future Market Outlook
The future outlook for Englee’s real estate market appears optimistic. Population trends suggest ongoing demand for housing, which should continue to bolster property values. If current economic conditions remain stable and interest rates do not see significant hikes, we can expect the upward trend in property prices to persist.
However, investors should remain aware of broader economic factors that could influence the market’s trajectory such as employment rates, infrastructure developments, and government policies affecting homeownership. Staying informed will be key to making sound investment decisions in Englee’s evolving real estate landscape.