Irishtown, 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 | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $410,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,050 |
| 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 Irishtown, Newfoundland and Labrador, is currently experiencing steady growth. With a median house price of $485,000 and a year-over-year increase of 4%, the housing sector shows healthy appreciation. Similarly, the apartment market is also on an upward trend with a median price of $295,000 and a year-over-year growth of 2.5%. These trends indicate a robust demand for residential properties in Irishtown.
The population of Irishtown has reached approximately 15,200 residents, with a notable growth rate of 2.7%. This demographic expansion suggests a growing demand for housing which could continue to drive the property values upward as supply strives to meet the increasing demand.
Investment Opportunities and Potential
Irishtown presents promising investment opportunities, particularly in the residential property market. The consistent growth in house prices indicates the potential for capital gains over the long term. Investors looking to purchase properties for rental income may also find favorable conditions due to the area’s population growth and limited housing supply.
New development projects could be particularly lucrative for investors seeking to capitalize on the demand for modern living spaces. Additionally, the steady appreciation in apartment values points towards a potentially profitable market segment for both rental and resale strategies.
Future Market Outlook
The future real estate market outlook for Irishtown appears positive. Given the solid population growth rate and continued economic development in Newfoundland and Labrador, it is reasonable to anticipate that housing demand will remain strong. The ongoing trend of increasing property values is likely to persist as long as the region maintains its economic stability and attractiveness to new residents.
In conclusion, both investors and homebuyers can approach Irishtown’s real estate market with cautious optimism. While no market is without risk, current indicators suggest that Irishtown’s real estate market has strong fundamentals that bode well for future performance.
