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 | 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 | $335,000 |
| 3 bedrooms | $420,000 |
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) | 1.4 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Glenwood, Newfoundland and Labrador has been witnessing moderate growth. The median house price in the region currently stands at $485,000, showing a steady year-over-year increase of 3.2%. Similarly, the median apartment price is now $295,000, with a slightly lower growth rate of 2.5% year-over-year. These trends suggest a stable market that is expanding at a healthy pace.
The population of Glenwood is approximately 15,000 residents, with a notable population growth rate of 3.4%. This demographic trend is likely contributing to sustained demand for housing in the area.
Investment Opportunities and Potential
Given the steady appreciation in property values, Glenwood presents itself as an attractive destination for real estate investors. The consistent growth in house and apartment prices indicates that investments made in the local real estate market have the potential for solid returns over time.
The robust population growth rate also points to an increasing demand for rental properties. Investors looking to enter the rental market or expand their portfolio might find substantial opportunities, particularly in multi-unit residential buildings which can cater to the growing number of residents.
Future Market Outlook
The future market outlook for Glenwood remains optimistic. With the ongoing population growth and stable year-over-year property value increases, we anticipate that these positive trends will continue. This could further drive up demand for both ownership and rental properties, resulting in a potentially higher rate of return for investors who act promptly on these trends.
However, as with any real estate investment, potential changes in economic conditions, government policies, and interest rates could impact future market dynamics. Investors should keep an eye on local and national events that could influence the market to make informed decisions.
