Irishtown, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $440,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| 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, currently presents a stable environment for both homebuyers and investors. The median house price stands at $520,000, reflecting a moderate year-over-year growth of 4%. This consistent increase in house prices indicates a healthy demand for residential properties in the area. Similarly, the median apartment price is $310,000, with a more modest year-over-year appreciation of 2.5%. This trend suggests that apartments are also in demand but may offer more accessible entry points into the real estate market for first-time buyers or those with budget constraints.
The population of Irishtown has reached 15,500 residents, showing robust growth at a rate of 3.3%. This significant increase in population is likely contributing to the sustained demand for housing and could be a driving force behind the steady price appreciation observed in the market.
Investment Opportunities and Potential
Given the steady growth in property values and population size, Irishtown offers promising investment opportunities. Investors looking to capitalize on long-term capital gains may find the consistent upward trend in house prices appealing. Rental properties could also provide a reliable income stream due to potentially increasing demand from the growing population. Additionally, with apartment prices experiencing a slower growth rate compared to houses, there may be an opening for investors to enter the market at a lower cost with potential for future appreciation.
The expansion of local infrastructure or community developments tied to this population growth could further enhance property values over time. Consequently, it would be prudent for investors to monitor these developments closely as they may influence both rental rates and property valuations positively.
Future Market Outlook
The future outlook for Irishtown’s real estate market appears optimistic based on current trends. If the population continues to grow at its current pace, demand for housing is likely to remain strong. This demographic trend coupled with historical data suggests that both house and apartment prices may continue their gradual ascent.
However, potential investors should also consider external economic factors such as interest rates, employment rates within the region, and national economic conditions which can all impact real estate markets significantly. Careful analysis of these broader indicators alongside local trends will be essential for making informed investment decisions.
In summary, while current trends point towards a positive trajectory for Irishtown’s real estate market, both short-term fluctuations and long-term shifts in economic conditions should be accounted for when considering future investments.
