Holyrood, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $290,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $410,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| 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 Holyrood, Newfoundland and Labrador, is experiencing steady growth, as evidenced by the year-over-year increases in property values. With a median house price of $500,000, which has risen by 4% from the previous year, the market indicates a healthy demand for single-family homes. Similarly, the median apartment price of $290,000, increasing at a slightly lower rate of 2.5% year-over-year, suggests that smaller dwellings are also appreciating but at a more modest pace.
This market growth can be partly attributed to the town’s growing population, now standing at 15,000 residents, with a notable population growth rate of 3.4%. The influx of new residents may be driving demand for housing, contributing to the upward trend in property prices.
Investment Opportunities and Potential
Holyrood presents several attractive investment opportunities within the real estate sector. Given the current trends, investing in single-family homes could yield significant returns due to their higher appreciation rate. The solid 4% increase in house prices suggests that this segment of the market is particularly robust.
Apartments also offer potential as investment properties, especially for those looking to cater to individuals or smaller families who might favor more affordable, low-maintenance living arrangements. With a 2.5% appreciation rate for apartments, investors can anticipate gradual equity growth over time.
In light of Holyrood’s population growth and its effects on housing demands, new residential developments or refurbishment projects could also be promising ventures. The increasing population serves as an indicator of future demand for housing which could benefit developers and investors alike.
Future Market Outlook
The future market outlook for Holyrood remains optimistic. The consistent population growth alongside positive trends in property value increases points towards a continuing rise in demand for both houses and apartments. Assuming that current economic conditions persist and no major disruptive events occur locally or globally, investors can reasonably expect ongoing appreciation in property values.
The sustained growth pattern suggests that Holyrood’s real estate market may become increasingly attractive to both national and international investors. This interest could further stimulate the local economy and potentially increase the pace of development within the town.
Careful monitoring of economic indicators such as employment rates, infrastructure development projects, and regional policies will be crucial for making informed predictions about long-term trends. However, based on current data and patterns observed over recent years, Holyrood stands out as a promising locale for real estate investment with a positive outlook for the foreseeable future.
