Hopedale, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Hopedale, Newfoundland and Labrador, is currently exhibiting a steady rise in property values. With the median house price standing at $500,000 and a year-over-year increase of 3.5%, the market is showing healthy growth. Apartments are also following a positive trend, albeit at a slightly lower rate of appreciation, with a median price of $300,000 and an annual increase of 2.1%. The population growth rate of 7.1% indicates robust demographic expansion which can be correlated with increased housing demand in the region.
Investment Opportunities and Potential
Hopedale’s real estate market presents investors with promising opportunities. The consistent upward trend in house prices suggests a strong potential for capital gains over the medium to long term. Investment in apartments could also be considered strategically advantageous due to their lower entry cost and steady appreciation rate. Additionally, the significant population growth could spur higher rental demand, potentially yielding favourable conditions for income properties and new development projects.
Future Market Outlook
The future outlook for Hopedale’s real estate market appears optimistic. Given the solid population increase and current economic indicators, it is reasonable to expect continued demand for housing which should support further property value appreciation. The stability observed in the year-over-year price trends for both houses and apartments hints at a sustained growth trajectory rather than a volatile spike that could lead to a market correction. Investors and homebuyers alike may find confidence in these conditions when considering Hopedale as a location for real estate investment or homeownership.
