Jamestown, 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 | $290,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $400,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,000 |
| Population Change | 5.1% |
| 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 Jamestown, Newfoundland and Labrador is currently experiencing stable growth. With the median house price standing at $485,000, the market has seen a year-over-year increase of 4%. This growth rate is indicative of a healthy demand for housing in the area. Similarly, the median apartment price in Jamestown is valued at $290,000, which reflects a slightly lower year-over-year increase of 2.5%. These statistics suggest that houses are in higher demand compared to apartments, potentially due to buyer preferences for more space or family-oriented living accommodations.
The population of Jamestown is currently at 15,200, with a notable population growth rate of 5.14%. This rapid increase can be attributed to the town’s expanding economy and its attractiveness to new residents seeking employment or a higher quality of life. The influx of residents is likely contributing to the healthy real estate market dynamics.
Investment Opportunities and Potential
In light of Jamestown’s growing population and consistent property value appreciation, there are significant investment opportunities within the real estate sector. The steady rise in housing prices points towards ongoing demand and suggests that investments in residential properties could yield positive returns over time. Moreover, given that the increase in apartment prices is slightly lower than that of houses, investors might find comparatively more affordable entry points into the real estate market through apartment purchases.
Potential investors should also consider long-term rental income prospects due to the town’s population growth. As new residents look for places to live, rental properties may become increasingly sought after. This situation presents an opportunity for investors to generate stable rental income while also benefiting from property value appreciation.
Future Market Outlook
The future outlook for Jamestown’s real estate market appears promising. Assuming current trends persist, continued population growth coupled with economic expansion could further drive housing demand. The consistent rise in property values indicates a strong and resilient market that may continue to offer attractive returns on investment.
However, investors should remain vigilant about regional factors that could affect the market such as changes in employment rates, local government policies regarding development, and broader economic conditions. Staying informed on these aspects will be crucial for making well-founded investment decisions moving forward.
To summarize, Jamestown’s real estate market shows potential for both short-term gains through flipping properties and long-term investment strategies like buy-and-hold rentals. Prudent investors who conduct thorough research and due diligence are likely to find lucrative opportunities in this vibrant community.
