Francois, 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
Current Market Conditions and Trends
In Francois, Newfoundland and Labrador, the real estate market is currently experiencing steady growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This indicates a healthy appreciation in property values, reflecting a growing demand for housing in the area. Similarly, the median apartment price has reached $300,000, showing a slightly more modest year-over-year growth of 2.1%. This disparity between house and apartment price trends suggests that houses are in higher demand compared to apartments.
The population of Francois is currently around 15,000 residents, with a significant growth rate of 7.1%. This robust population increase is likely contributing to the upward pressure on housing prices as more individuals and families seek accommodation in the region.
Investment Opportunities and Potential
The consistent rise in property values coupled with substantial population growth presents an attractive landscape for real estate investment in Francois. Investors may find opportunities in purchasing residential properties to cater to the increasing housing demand driven by the population surge. With houses showing stronger price appreciation than apartments, single-family homes might offer better capital gains potential.
However, the growing interest in rental accommodations due to an expanding workforce could also present potential for investing in multi-family units or developing new apartment complexes. Considering the current trends, long-term investment strategies may be particularly advantageous as the market shows signs of sustained growth.
Future Market Outlook
The future real estate market outlook for Francois appears optimistic. The ongoing population growth implies continued demand for housing which could maintain or even accelerate the current pace of price appreciation. Assuming no significant economic disruptions occur, both the median house and apartment prices are likely to continue their upward trajectory.
An important factor to watch will be how local infrastructure and amenities develop in response to the growing population. A proactive approach to expanding services and facilities could further enhance the attractiveness of Francois as a place to live and invest.
In summary, with stable price growth and strong demographic trends, Francois offers solid prospects for real estate investors looking for long-term value creation. As always, thorough market analysis and due diligence are recommended when considering any real estate investment.
