Glenwood, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $245,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,500 |
| Population Change | 3.4% |
| 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 Glenwood, Newfoundland and Labrador is currently experiencing steady growth. The median house price stands at $485,000, which represents a year-over-year increase of 3.2%. This suggests a stable market with moderate appreciation in property values. On the other hand, the median apartment price is slightly less at $295,000, increasing at a slower pace with a trend of 1.9% year-over-year.
The population of Glenwood is approximately 15,000 residents, which has grown by 3.4%. This growth indicates a potential increase in housing demand which may contribute to the current trends of property price increases and could have effects on rental markets as well.
Investment Opportunities and Potential
In light of the steady growth in property values and population, Glenwood presents viable investment opportunities. The consistent rise in house prices points towards a healthy demand for residential properties, which could be beneficial for long-term capital gains. Furthermore, the population increase implies potential for rental investments as more people may be looking for housing options.
Investors might find the apartment sector particularly attractive due to its lower entry price point and the slower yet positive growth trend. This segment could offer more accessible investment opportunities with the potential for steady rental income and appreciation over time.
Future Market Outlook
The future outlook for Glenwood’s real estate market remains optimistic considering the current trends and population growth rate. If these factors continue along their current trajectories, it is reasonable to anticipate ongoing increases in property values albeit at a sustainable pace.
Glenwood’s growing population will likely continue to drive demand for both buying and renting properties, supporting both facets of the real estate market. As long as economic conditions remain favorable, investors can expect to see continued interest in residential properties within this region.
In conclusion, while monitoring economic indicators and local developments is essential for precise forecasting, current data points towards an active market with opportunities for investment and positive expectations for future performance.
