Harcourt, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.3% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.4% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $255,000 |
| 2 bedrooms | $355,000 |
| 3 bedrooms | $465,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 15,000 |
| Population Change | 1.3% |
| 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 Harcourt, Newfoundland and Labrador, is experiencing a period of moderate growth. The median house price stands at $495,000, with a year-over-year increase of 3.3%. This indicates a stable market that is gradually appreciating in value. Similarly, the median apartment price is currently at $310,000, with a slightly lower growth rate of 2.4% year-over-year. This suggests that while the market for apartments is also growing, it is doing so at a more tempered pace compared to houses.
The population of Harcourt has reached approximately 15,200, with an annual growth rate of 1.3%. This steady increase in population can be seen as a contributing factor to the sustained demand for housing in the area.
Investment Opportunities and Potential
Given the steady growth in both property values and population, Harcourt presents several promising investment opportunities. The consistent appreciation in house prices suggests that purchasing residential properties could yield solid returns over time. Additionally, with apartments experiencing positive albeit slower growth, they represent an alternative investment opportunity that could appeal to those looking for more affordable entry points into the real estate market.
Investors might also consider exploring new construction projects or renovation of existing properties to cater to the increasing population and shifting preferences within the market. The ongoing development within Harcourt implies potential for both short-term construction-related investments and long-term property management strategies.
Future Market Outlook
The future outlook for Harcourt’s real estate market remains optimistic. With a steady population increase and consistent upward trends in property values, it’s reasonable to expect that the demand for housing will continue to sustain or potentially increase. Assuming no major economic disruptions occur, investors can look forward to a market characterized by gradual growth.
However, investors should keep an eye on broader economic indicators and local developments that could influence these trends. Factors such as employment rates, infrastructure projects, and regional economic policies may all play a role in shaping the future trajectory of Harcourt’s real estate market.
