Frederickton, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Fredrickton, Newfoundland and Labrador, is presently characterized by moderate growth. The median house price in the region stands at $495,000, with a year-over-year increase of 3.2%. This suggests a stable market that is moving in a positive direction, but not overheating. Similarly, apartments are showing a steady gain with the median price at $295,000 and a year-over-year growth of 2.5%. The population of Fredrickton has reached approximately 15,200 residents, an indicator of demand for housing, with a healthy growth rate of 2.7%. This population increase is likely contributing to the measured rise in property values.
Investment Opportunities and Potential
The current trajectory of the Fredrickton real estate market presents several investment opportunities. Given the steady growth in housing prices, investors can expect continued appreciation in the value of both houses and apartments. The moderate price trends suggest that there may still be room for growth before the market reaches its peak, making it an opportune time to invest. Moreover, the consistent population growth ensures a sustained demand for rental properties which could be beneficial for those looking to invest in rental markets or develop new residential projects.
Future Market Outlook
Looking ahead, the future market outlook for Fredrickton appears cautiously optimistic. If current trends persist, we can anticipate ongoing gradual increases in property values. The consistent rise in population should continue to underpin the demand for housing. However, as with any market forecast, it is critical to monitor local economic conditions, interest rates, and other macroeconomic factors that might impact housing affordability and mortgage accessibility. Investors and potential homeowners alike should stay informed on these variables to make well-founded decisions in the real estate market.
