Hampden, 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 (2025) | 15,000 |
| Previous Population (2020) | 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 Hampden, Newfoundland and Labrador
In Hampden, the current real estate market conditions exhibit moderate growth with a year-over-year house price increase of 3.5%, setting the median house price at $500,000. Similarly, the apartment market has seen a slower yet steady growth of 2.1% year-over-year, with the median apartment price now at $300,000. This growth is reflective of a robust economy and a demand for housing driven by the population growth, which currently stands at 7.1%. The steady increase in housing prices indicates a healthy market where investment continues to appreciate over time.
Investment Opportunities and Potential in Hampden
The positive trends in the real estate market create an inviting scenario for investors. With the population of Hampden growing at a significant rate of 7.1%, there is an increased need for residential properties, making investments in both houses and apartments potentially lucrative. The current median prices suggest that there is room for appreciation, making long-term investments particularly attractive. Additionally, rental properties may benefit from the population growth as newcomers to the area seek temporary housing before purchasing homes.
Future Market Outlook for Hampden Real Estate
Considering the steady growth in property values and the robust population increase, Hampden’s future market outlook appears optimistic. If current trends continue, we can expect to see ongoing appreciation in property values across both houses and apartments. However, it is essential to monitor local economic factors, interest rates, and national real estate policies that could impact future growth rates. Investors should maintain a watchful eye on these indicators to make informed decisions while considering long-term investment opportunities within this emerging market.
