Epworth, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.3% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,000 |
| Population Change | 5.1% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Epworth, Newfoundland and Labrador is currently experiencing steady growth. The median house price stands at $485,000, with a year-over-year increase of 3.2%. Similarly, the median apartment price is now $295,000, rising by 2.3% over the past year. These trends indicate a healthy demand for housing in the area.
The population of Epworth has grown to 15,200 residents, marking a significant growth rate of 5.14%. This demographic expansion is a key driver behind the robust real estate market as more people seek housing in the region. The growing population suggests sustained demand, which could continue to push property prices upward.
Investment Opportunities and Potential
For investors looking at Epworth’s real estate market, there are compelling opportunities for both immediate rental income and long-term capital gains. The steady increase in property values, coupled with significant population growth, indicates that there is a consistent demand for housing. Investing in properties such as single-family homes or apartments could yield profitable returns as the market continues to expand.
The current trends also indicate potential for development projects aimed at meeting the housing needs of the growing population. New constructions and developments catering to diverse buyer profiles—from first-time homebuyers to retirees—could be particularly attractive investments.
Future Market Outlook
The future outlook for Epworth’s real estate market appears positive. With an upward trajectory in both house and apartment prices and a burgeoning population, the demand for housing is expected to remain strong. Assuming that the local economy stays stable and supportive policies are maintained, investors and homeowners can anticipate continued growth in property values.
Additionally, as more people move to Epworth seeking employment opportunities or a better quality of life, we may see an increase in rental demand that could benefit landlords and investors focused on income-generating properties.
However, potential investors should monitor local economic factors and stay informed about any changes in regulations that may impact the real estate market. With careful consideration of these aspects, stakeholders can make strategic decisions to capitalize on Epworth’s dynamic property market.
