Flatrock, 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 | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
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 Flatrock, Newfoundland and Labrador, currently shows promising stability and growth. The median house price stands at $485,000, with a year-over-year increase of 4%. This consistent rise indicates a healthy demand for houses in the region. Meanwhile, the median apartment price is at a more accessible point of $295,000, which has grown by 2.5% compared to the previous year. The slower growth rate of apartment prices suggests a market that is more balanced than heated, offering options for diverse buyer segments.
Flatrock’s population has been experiencing a steady growth rate of 3.3%, reaching around 15,500 residents. This demographic trend supports the continuous demand for housing in the area and may be contributing to the appreciation of property values.
Investment Opportunities and Potential
The persistent increase in housing prices coupled with steady population growth signals strong investment potential in Flatrock’s real estate market. The consistent demand for housing presents opportunities for investors looking to enter the residential rental market or those interested in buying properties for capital gains over the medium to long term.
The lower growth rate observed in apartment prices compared to houses suggests an opportunity for investors targeting first-time homebuyers or individuals searching for more affordable living options. Furthermore, as the population continues to grow, there may be an increased need for rental properties, potentially yielding attractive returns for buy-to-let investors.
Future Market Outlook
The outlook for Flatrock’s real estate market remains optimistic based on current trends and demographic indicators. Should the population continue to grow at the current rate or higher, it is likely that demand will further drive property values upward. However, investors and stakeholders should remain cognizant of broader economic conditions and potential policy changes that could impact interest rates and borrowing costs.
The current positive trajectory suggests that investment in both residential homes and apartments can be considered sound under present conditions. Yet it remains important for potential investors to conduct thorough market research and consider long-term regional economic forecasts before making substantial financial commitments.
