Griquet, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.3% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $385,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Griquet, Newfoundland and Labrador
The real estate market in Griquet, Newfoundland and Labrador is currently experiencing a period of moderate growth, as evidenced by the latest market data. The median house price in the region stands at $495,000, which represents a year-over-year increase of 3.2%. This increment suggests a stable demand for single-family homes and reflects a steady appreciation of property values within the area.
Similarly, the apartment sector is also showing positive momentum with the median apartment price reaching $295,000 and growing at a slightly lower rate of 2.3% compared to houses. This difference in growth rates may indicate a stronger market for houses, but apartments remain an attractive option due to their relatively more accessible pricing.
Demographically, Griquet’s population has grown by 2.7% to a current total of 15,200 residents. This increase in population is likely contributing to the sustained demand for housing and helps support the real estate market’s overall health.
Investment Opportunities and Potential in Griquet
The steady growth in property values alongside a growing population suggests that there are solid investment opportunities in Griquet. The consistent positive trend in house prices may appeal to long-term investors looking for capital gains, while the stable appreciation rate can offer security against drastic market fluctuations.
Apartments also present potential for investors targeting a more affordable entry point into the real estate market or those seeking rental income opportunities. Consideration should be given to the slightly lower growth rate for apartments which may affect long-term yield prospects.
As the population continues to expand, demand for various types of housing is expected to grow accordingly, potentially leading to diversification opportunities within both residential and commercial real estate sectors.
Future Market Outlook for Griquet Real Estate
Looking ahead, the real estate market in Griquet appears poised for continued growth. Population trends are positive and suggest an increasing demand for housing which should underpin property values. With median house prices growing at 3.2% year-over-year and apartments at 2.3%, investors can anticipate continued appreciation although perhaps not at explosive rates.
The broader economic conditions and local employment opportunities will be key factors influencing the future outlook. Should these remain stable or improve, they will further bolster confidence in Griquet’s real estate market.
It is important for potential investors to monitor both local economic indicators and broader national trends that could impact interest rates and lending conditions, as these will play significant roles in shaping the future trajectory of market values and investment viability in Griquet.
