Ferryland, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 0.9% |
Apartment
| Median price | $290,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $410,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,900 |
| Population Change | 2.0% |
| 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 Ferryland, Newfoundland and Labrador is exhibiting steady growth. With a median house price of $485,000 reflecting a year-over-year increase of 3%, the market is showing resilience and sustained demand. Similarly, apartments are experiencing a rise in value, with the median apartment price now at $290,000, increasing at a slightly lower rate of 2.5% year-over-year.
This consistent growth trend can be attributed to several factors, including the region’s economic stability and appealing lifestyle options that attract new residents. The population of Ferryland stands at 15,200, with a growth rate of 2%. This incremental rise in population suggests an ongoing interest in the area which may continue to support real estate prices.
Investment Opportunities and Potential
The current real estate trends in Ferryland indicate moderate yet steady growth, presenting attractive opportunities for investors looking for long-term appreciation potential. The increment in housing prices suggests that purchasing property in this market could yield favorable returns over time.
Given the ongoing population increase, there is potential for rental demand to grow as well, making investment in residential rental properties particularly intriguing. Investors should also consider the lower entry point for apartments as a more affordable means to gain exposure to the local real estate market while capitalizing on similar growth trends.
Future Market Outlook
The future outlook for Ferryland’s real estate market appears cautiously optimistic. Assuming the continuation of current economic conditions and population trends, the market is likely to maintain its upward trajectory. However, investors should be mindful of broader economic factors such as interest rates and employment levels which could influence buyer affordability and consequently impact market dynamics.
The ongoing 3% annual increase in house prices and 2.5% rise in apartment values suggest that Ferryland will remain an attractive market for both homeowners and investors. As long as the area continues to draw new residents due to its lifestyle offerings and economic opportunities, demand for housing is expected to persist, potentially leading to further price appreciation over time.
