Francois, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $482,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $482,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 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 Francois, Newfoundland and Labrador, is currently experiencing steady growth. With a median house price of $482,000, the market has seen a year-over-year increase of 2.8%. This indicates consistent demand for housing in the region. Similarly, the median apartment price stands at $295,000, which has grown by 1.5% over the past year. These trends suggest a stable and gradually appreciating real estate environment.
Francois’s population has grown by 3.3%, reflecting an influx of residents that could be contributing to the housing demand. The community’s infrastructure and quality of life may be attractive features drawing new inhabitants and supporting the local real estate market’s resilience.
Investment Opportunities and Potential
The moderate growth rate in property values presents potential opportunities for investors looking for markets with steady appreciation potential without the volatility seen in larger urban centers. The current trends indicate that Francois could offer a balance between investment security and growth prospects.
Investors might also consider the rental market due to population growth. The increasing number of residents suggests a potential rise in demand for rental properties, which could provide stable income streams for property owners. Furthermore, given that the increase in property prices is modest, it implies that there may still be competitively priced investment options available in both residential homes and apartments.
Future Market Outlook
The future outlook for Francois’s real estate market appears cautiously optimistic. If the current population growth trend continues, it could sustain ongoing demand for housing. Provided that economic conditions remain stable and supportive of the housing market, we can expect continued gradual appreciation in property values.
However, investors should remain cognizant of regional economic factors that may influence future growth such as employment rates, local industry performance, and government policies affecting homeownership incentives or taxation. Monitoring these variables will be crucial to making informed predictions about long-term trends in Francois’s real estate market.
