Foxtrap, 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 | 0.6% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 1.9% |
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 | $440,000 |
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 Foxtrap, Newfoundland and Labrador, is currently characterized by steady growth. The median house price stands at $485,000, showing a healthy year-over-year increase of 3%. This indicates a consistent appreciation in property values within the residential sector. Similarly, the median apartment price is $295,000, with a year-over-year growth of 1.9%. These figures suggest a more modest but stable rise in the value of multi-family units.
The population of Foxtrap has risen to 15,500 residents, with a notable growth rate of 3.3%. This demographic expansion contributes to the demand for housing and can be seen as a positive signal for the real estate market’s vitality.
Investment Opportunities and Potential
In light of the current market trends, Foxtrap presents several opportunities for real estate investment. The consistent rise in property values offers potential capital gains for long-term investors. Single-family homes are particularly promising due to their higher appreciation rate.
Moreover, the growing population suggests an increasing demand for rental properties, which could benefit investors interested in income-generating assets like apartments and multi-unit dwellings. With apartments experiencing a slower yet stable price increase, investment at this point could be advantageous before potential acceleration in growth aligns with overall housing demand.
Future Market Outlook
The future outlook for Foxtrap’s real estate market looks optimistic. Given the solid population growth and the current trajectory of property values, it is reasonable to project continued demand for housing. If economic conditions remain favorable and supply can keep pace with the rising demand driven by demographic factors, both the residential and rental markets should maintain their upward momentum.
Careful attention to economic indicators such as employment rates, interest rates, and regional development projects will be essential for accurate forecasting. However, based on existing data, Foxtrap’s real estate market appears poised for sustained growth over the coming years.