Gander, 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 Gander, Newfoundland and Labrador, the real estate market is exhibiting steady growth. With a median house price of $500,000 and an upward trend of 3.5% year-over-year, the market is healthy and shows resilience against broader economic fluctuations. The apartment sector, with a median price of $300,000, also reflects growth but at a slightly more modest pace of 2.1% year-over-year.
The population in Gander currently stands at 15,000 people and has seen a significant increase of 7.1%, suggesting a growing demand for housing. This influx is likely to continue supporting property values as well as rental market strength due to new residents seeking accommodation before considering home ownership.
Investment Opportunities and Potential
For investors, Gander presents attractive opportunities, especially in the residential sector. The consistent rise in property values indicates the market’s potential for capital gains over the long term. Single-family homes are particularly promising given their higher appreciation rate compared to apartments.
Rental properties also offer potential due to the population growth. Investors could benefit from purchasing rental units to cater to newcomers who may not immediately enter the housing market. With the current trends, rental demand is likely to rise, possibly leading to an increase in rental yields.
Commercial real estate could also present untapped potential as the growing population may lead to higher demand for retail spaces, offices, and services that support community growth.
Future Market Outlook
The future outlook for Gander’s real estate market remains optimistic. Population growth is one of the fundamental drivers of housing demand and with a 7.1% increase recorded; it can be inferred that demand will continue to rise. This should underpin both sales activity and property values.
Moreover, with national economic recovery on the horizon post-pandemic, regional economies like Gander might benefit from renewed interest from both local and outside buyers looking for more affordable options compared to major urban centers.
However, investors and homebuyers alike should consider external factors such as interest rates, employment rates, and government policies affecting homeownership which could influence market dynamics moving forward.
