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Forteau, Newfoundland and Labrador Real Estate Market Data

Updated: Nov 2024

House

Median price $500,000
Monthly growth 1.2%
Quarterly trend 3.5%
Stock on market 0.8%

Apartment

Median price $300,000
Monthly growth 0.9%
Quarterly trend 2.1%
Stock on market 1.2%

Prices by Number of Bedrooms

Houses

Bedrooms Median Price
2 bedrooms $400,000
3 bedrooms $500,000
4 bedrooms $600,000

Apartments

Bedrooms Median Price
1 bedrooms $250,000
2 bedrooms $350,000
3 bedrooms $450,000

Demographics

Current Population (2025) 15,000
Previous Population (2020) 14,000
Population Change 7.1%
Total Private Dwellings 6,000
Occupied Private Dwellings 5,500
Population Density (per km²) 1.5
Land Area (km²) 2,500.5

Market Analysis






Forteau, Newfoundland and Labrador Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Forteau, Newfoundland and Labrador is currently experiencing moderate growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing signs of steady appreciation. The demand for houses in this area reflects a healthy market condition that is attractive to both residents and investors alike. Similarly, the apartment sector is also growing, albeit at a slightly slower pace, with a median price of $300,000 and a 2.1% year-over-year trend.

The population of Forteau has reached 15,000 with a robust growth rate of 7.1%. This demographic expansion suggests an increasing demand for housing which could contribute to sustaining the current positive trends in property values over time.

Investment Opportunities and Potential

Given the current market conditions, investment opportunities in Forteau appear promising. The consistent growth in housing prices points to a stable environment where investors can expect reasonable capital gains. For those interested in rental properties, the increasing population may lead to higher demand for rental units, potentially translating into more favorable rental yields.

Investors should consider both residential and apartment sectors for diversification purposes. The slower growth rate in apartment prices may allow for entry at a more accessible price point, while providing an opportunity for long-term value appreciation as the market continues to expand.

Future Market Outlook

The future market outlook for Forteau’s real estate is cautiously optimistic. Assuming that the population continues to grow at or near its current rate, it is likely that housing demand will remain robust. However, investors and potential homeowners should remain aware of regional economic factors and national policy changes that could impact mortgage rates or employment levels, as these can have significant effects on local real estate markets.

If current trends persist, both the house and apartment markets are expected to maintain their upward trajectory. Infrastructure developments and improvements in local amenities would further enhance this outlook by attracting new residents and supporting higher property values.