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 | 2.0% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $570,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Heatherton, Newfoundland and Labrador, is currently experiencing a period of moderate growth. The median house price stands at $485,000, which marks a 3.2% increase year-over-year. This suggests that the housing market is steadily appreciating, though not at an aggressive rate. Meanwhile, apartments are also seeing an uptick in value with the median price at $295,000, following a 2% rise from the previous year.
The population growth rate of 3.3% in Heatherton indicates a healthy demand for housing, likely driven by both the natural population increase and inward migration. This demographic trend can be a contributing factor to the sustained property value appreciation and housing demand.
Investment Opportunities and Potential
Investors looking at Heatherton’s real estate market can find opportunities in both the single-family home segment and the apartment market. The consistent growth in median prices for houses and apartments suggests that investments could yield positive returns over time as the market conditions show signs of stability and growth.
The current trends indicate that rental properties may also be a viable investment avenue due to the increasing population. This demographic expansion could potentially lead to higher rental demand, particularly for apartments which are currently more affordable than houses. Investors might consider diversifying their portfolio with both property types to capitalize on different sectors of the market.
Future Market Outlook
Looking forward, the Heatherton real estate market shows promise due to its steady growth rates and increasing population. If current trends continue, investors can reasonably expect ongoing appreciation in property values. The key drivers for future growth will likely include continued demographic expansion along with economic factors such as employment rates and regional development initiatives.
However, it’s important for investors to monitor external factors such as interest rates, government policies affecting homeownership, and broader economic conditions that could influence consumer confidence and impact the real estate market.
In conclusion, Heatherton presents as a stable market with potential for long-term investment returns. Prudent investors should keep abreast of local developments and broader economic indicators to make informed decisions about entering or expanding their holdings in this regional market.
