Horwood, 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 Horwood, Newfoundland and Labrador, is currently experiencing moderate growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This suggests a steady demand for single-family homes, reflecting a healthy local economy and an attractive residential environment. Similarly, the median apartment price is reported to be $300,000, rising at a slightly lower rate of 2.1% year-over-year. This differential in growth rates between houses and apartments indicates a potentially higher demand for more spacious living accommodations in Horwood.
With a population of 15,000, the area has seen significant growth, with an increase of 7.1%. Such demographic changes can fuel the real estate market by increasing demand for housing and stimulating local economic activity.
Investment Opportunities and Potential
The current trajectory of the Horwood real estate market suggests there are promising opportunities for investment. The steady growth in property values reflects confidence in the stability of the market and potential for long-term capital gains. Investors might consider tapping into the single-family home segment, which is showing somewhat stronger price appreciation than apartments.
The positive population growth rate could be indicative of a burgeoning market with potential for rental investments. As new residents look for housing solutions, investors may find opportunities in both purchasing and developing properties to meet this demand.
Beyond residential properties, commercial real estate investors should monitor local economic indicators for potential business expansions as the population rises, which could create a need for more retail spaces, offices, or industrial properties.
Future Market Outlook
The future market outlook for Horwood appears cautiously optimistic. If current trends persist, we can expect continued moderate growth in property prices fueled by demographic expansion and economic development. However, as with any real estate market forecast, it is essential to consider external economic factors such as employment rates, interest rates, and regional economic policies that could affect future market conditions.
The robust population increase is likely to continue driving housing demand in the short to medium term. This bodes well for sustained investment returns through both capital appreciation and rental income streams. Nevertheless, prospective investors must conduct thorough due diligence and remain attuned to both local developments and broader macroeconomic conditions that influence real estate markets.
