Holyrood, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| 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 | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,100 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| 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
In Holyrood, Newfoundland and Labrador, the real estate market is experiencing stable growth. The median house price currently stands at $485,000, reflecting a healthy year-over-year increase of 4%. The apartment sector is also showing positive momentum with a median price of $295,000 and a growth trend of 2.5% over the past year. This steady appreciation in property values is indicative of a robust market.
The population in Holyrood has experienced significant growth, with an increase of 4.8%, bringing the total to approximately 15,100 residents. This demographic expansion suggests an increasing demand for housing and may signal continued upward pressure on real estate prices in the foreseeable future.
Investment Opportunities and Potential
The persistent rise in property values coupled with substantial population growth positions Holyrood as a promising location for real estate investment. The single-family home sector, with its stronger appreciation rate, presents particularly attractive opportunities for investors looking for long-term capital gains. Apartments offer a lower entry point into the market and may appeal to those seeking rental income, given the area’s growing population and potential demand from those who cannot yet afford to buy.
Investors should note that the consistent upward trend in prices reflects both the inherent desirability of the region as well as a potential for sustained investment returns. Moreover, considering the relatively small size of the market, there could be room for niche investments or developments that cater to specific segments of the population or capitalize on unique local characteristics.
Future Market Outlook
The outlook for Holyrood’s real estate market appears optimistic. Assuming current economic conditions remain stable, we can anticipate continued growth in both housing prices and population numbers. While no market is without risk, the consistent trends observed provide a solid foundation upon which future performance can be projected.
The ongoing development of local amenities and infrastructure, combined with Newfoundland and Labrador’s overall economic strategy, could further enhance Holyrood’s attractiveness to new residents and investors alike. It is reasonable to expect that if these positive local factors persist alongside broader provincial initiatives aimed at economic diversification and growth, Holyrood’s real estate market could outperform in both the mid and long term.
In conclusion, careful monitoring of regional economic indicators, policy changes, and infrastructure developments will be key in assessing future movements within Holyrood’s real estate market. Nonetheless, current data points toward a favorable investment climate with potential for sustained growth.
