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
In Horwood, Newfoundland and Labrador, the real estate market is demonstrating a steady increase in property values. With a median house price of $500,000, the market has experienced a growth of 3.5% over the previous year. This suggests a stable environment for homeowners and investors alike. The median apartment price is currently at $300,000, reflecting a slightly more modest year-over-year increase of 2.1%. The demand for both houses and apartments appears to be on an upward trajectory, which may be partially attributed to the population growth of 7.1% that Horwood has seen recently.
Investment Opportunities and Potential
The observed trends suggest that Horwood offers promising investment opportunities. The consistent appreciation in property values indicates a healthy market with potential for capital gains over time. Investors considering entering the Horwood market could potentially benefit from both long-term asset appreciation and rental income streams, especially given the growing population that may drive demand for housing.
The 3.5% increase in house prices also points towards a positive sentiment among buyers, which may extend to new developments and renovations within existing properties. As such, investors might look into residential projects or consider buying older properties to renovate and sell at a premium. Meanwhile, the apartment sector offers a more accessible entry point for investors with a smaller capital outlay, while still providing the advantage of the observed 2.1% annual price increase.
Future Market Outlook
Looking ahead, Horwood’s real estate market appears poised for continued growth. The combination of rising property values and significant population expansion creates an optimistic outlook for both residential and investment purposes. Should current trends persist, future homeowners may see sustained equity growth whereas investors could leverage increasing rental demands.
However, market dynamics can shift due to various factors including economic policies, interest rate changes, and regional developments. It is advisable for stakeholders to stay informed about local and national economic indicators that could impact real estate trends in Horwood.
