Gaultois, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
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 Gaultois, Newfoundland and Labrador is currently experiencing a period of moderate growth. The median house price in the region stands at $485,000, with a year-over-year increase of 4%. This steady growth indicates a healthy demand for housing and an upward trend in property values. Similarly, the median apartment price has also seen a rise to $295,000, growing at a slightly lower rate of 2.5% year-over-year.
These pricing trends are reflective of a burgeoning market that is managing to attract interest despite broader economic conditions. Contributing to these trends is the population growth of 3.3%, suggesting a positive demographic shift that supports the real estate market.
Investment Opportunities and Potential
Investors considering entering the Gaultois real estate market could find opportunities particularly in residential properties given the consistent rise in home prices. The higher growth rate in house prices compared to apartments suggests that single-family homes may offer better capital appreciation prospects over time.
However, apartments should not be overlooked as they offer a more accessible price point at $295,000 and may appeal to a different segment of the market such as professionals and smaller families. With positive population growth figures, demand for rental properties could provide investors with stable rental income streams alongside potential long-term value appreciation.
Future Market Outlook
The future outlook for Gaultois’s real estate market appears cautiously optimistic. Continued population growth at a rate of 3.3% will likely sustain the demand for housing. Provided there are no significant economic downturns or drastic changes in local policies that negatively impact the housing sector, current trends suggest incremental growth will persist.
Prospective investors and homeowners should monitor factors such as employment rates, new construction developments, and interest rates as they can influence future market dynamics significantly. As it stands, moderate price increases in both houses and apartments signal confidence in the stability and potential for progression within Gaultois’s real estate landscape.
