Gander, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.4% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $450,000 |
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
1. Current Market Conditions and Trends
The real estate market in Gander, Newfoundland and Labrador, exhibits steady growth with the median house price sitting at $495,000, reflecting a 3.4% year-over-year increase. This consistent upward trend suggests a healthy demand for housing in the area. The apartment sector is also witnessing growth, albeit at a slightly slower pace, with median prices at $295,000—an increase of 2% compared to the previous year.
With a population of 15,500 that has grown by 3.3%, Gander is experiencing demographic growth that potentially contributes to an increased demand for housing. The combination of population growth and rising house prices indicates an active market where buyers continue to invest despite gradual price increments.
2. Investment Opportunities and Potential
Investment opportunities in Gander are promising due to the town’s growing population and economic stability. The moderate yet consistent increase in property values suggests room for capital appreciation over time. Single-family homes present a sound investment given their higher year-over-year price increase when compared to apartments.
For investors looking at rental income or more affordable entry points into the real estate market, apartments may be an attractive option given their lower median price point. The positive trend in apartment prices also suggests potential for long-term growth in this sector.
3. Future Market Outlook
The future market outlook for Gander appears optimistic. Factors such as continued population growth and regional economic development are likely to sustain demand for housing. While current trends show moderate price increases, these could accelerate if supply constraints become more pronounced or if the town attracts significant external investments.
It is important for investors to consider both macroeconomic factors and local developments when evaluating the long-term potential of Gander’s real estate market. Vigilance towards interest rate changes, employment rates, and immigration patterns will be key in predicting future market conditions.
