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Heatherton, 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 0.9%

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 $420,000
3 bedrooms $485,000
4 bedrooms $590,000

Apartments

Bedrooms Median Price
1 bedrooms $240,000
2 bedrooms $330,000
3 bedrooms $420,000

Demographics

Current Population (2025) 15,200
Previous Population (2020) 14,500
Population Change 4.8%
Total Private Dwellings 6,100
Occupied Private Dwellings 5,600
Population Density (per km²) 1.6
Land Area (km²) 2,500.5

Market Analysis





Heatherton, Newfoundland and Labrador Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Heatherton, Newfoundland and Labrador is currently experiencing a steady growth. With a median house price of $485,000, the market has seen a 3.2% year-over-year increase. Apartments in the area are also seeing growth with a median price of $295,000, following a 2.5% year-over-year upward trend. These figures indicate a stable real estate environment that is attractive to both homeowners and investors.

The population of Heatherton stands at 15,200 and has shown a healthy growth of 4.8%. This demographic expansion suggests an increasing demand for housing, which could continue to drive property values up over time if the current trends persist.

Investment Opportunities and Potential

The steady increase in property values, coupled with ongoing population growth, presents clear investment opportunities in Heatherton. Investors looking to capitalize on the real estate market can expect modest but consistent appreciation in property values. The housing market’s performance, particularly the 3.2% increase in median house prices, demonstrates resilience and potential for long-term capital gains.

Apartments offer an alternative investment opportunity with their 2.5% year-over-year price increase. Rental properties are likely to be in higher demand as the population continues to grow, potentially yielding favorable rental income returns for investors. Moreover, with the median apartment price being significantly lower than that of houses, there is an entry point for investors with different budgets.

Future Market Outlook

The future market outlook for Heatherton remains optimistic given the current trends. The sustained population growth not only drives demand for housing but also suggests confidence in the local economy’s potential for expansion. As long as these conditions remain, the real estate market is expected to continue its gradual growth.

However, investors should monitor local economic developments and any changes in national policies that may affect interest rates or lending conditions. These factors can significantly influence buyer activity and property values. Staying informed will help investors and homeowners make educated decisions about entering or exiting the market at opportune times.

Data Source: Local Real Estate Board – Last Updated March 2023