Goulds, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Goulds, Newfoundland and Labrador
The real estate market in Goulds, Newfoundland and Labrador is currently experiencing a period of steady growth. The median house price in the region stands at $500,000, which marks a year-over-year increase of 3.5%. This indicates a healthy demand for housing in the area, reflecting both local economic stability and buyer confidence.
In the apartment sector, the median price is somewhat lower at $300,000, with a more modest year-over-year increase of 2.1%. This suggests that while there is growth in the apartment market as well, it is occurring at a slower pace compared to the single-family home segment. The differing trends may point to varying demand dynamics between these two types of properties, with houses being the more sought-after option.
With a population of 15,000 that has seen a robust growth rate of 7.1%, Goulds is likely to maintain or even increase its current pace of real estate activity. An expanding population typically fuels demand for housing, which could further stimulate market conditions.
Investment Opportunities and Potential in Goulds
The sustained increase in property values suggests that Goulds presents promising opportunities for real estate investors. The consistent growth in median house prices offers potential for capital gains over time. For investors looking to enter the residential market or expand their portfolios, investing in single-family homes could be particularly advantageous given their stronger appreciation trend.
Apartments also present an opportunity, especially for those catering to smaller households or looking for properties with potentially lower maintenance requirements and costs. With a slower rate of price increase, investors might find better initial value opportunities in the apartment sector.
Given the area’s population growth, there could be an upswing in demand for rental properties. Investors might explore this angle by purchasing properties to rent out to residents who are not yet ready or willing to buy homes themselves.
Future Market Outlook for Goulds Real Estate
The future market outlook for Goulds appears positive based on current trends and demographics. Should the population continue to grow at its current rate, it is reasonable to forecast that demand for housing will remain strong or even increase. This sustained demand could drive further increases in property values across both houses and apartments.
However, external factors such as changes in interest rates, employment rates within the province, and broader economic conditions could impact this outlook. Potential investors and homeowners should keep an eye on these indicators as they can influence market dynamics significantly.
In summary, while specific economic forecasts require continuous monitoring for a more precise prediction, current trends point towards ongoing growth and investment potential within Goulds’ real estate market.
