Jamestown, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.3% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $385,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $335,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,100 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.1% |
| 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 a period of moderate growth. The median house price in the area stands at $495,000, which marks a year-over-year increase of 3.3%. This consistent uptick in house prices indicates a stable demand for residential properties. Concurrently, the apartment sector is also showing positive movement with a median price of $295,000 and a more modest year-over-year increase of 2%. These trends suggest that the market is accommodating both single-family homes and multi-family units, reflecting a diverse range of housing demands.
Investment Opportunities and Potential
Investment opportunities within Jamestown are emerging as the population experiences a healthy growth rate of 4.14%. This demographic expansion can be attributed to various factors including economic development, job creation, and lifestyle attractiveness which may lead to sustained demand for housing. Investors might find potential in both purchasing properties for long-term capital appreciation and engaging in rental markets to cater to those who prefer leasing over homeownership. Given the steady price increase in both houses and apartments, investments made at this juncture could benefit from continued market growth.
Future Market Outlook
Looking ahead, the future market outlook for Jamestown remains cautiously optimistic. With a growing population and ongoing economic stimuli, demand for real estate is expected to maintain or potentially increase. Assuming that current trends persist, property values are likely to continue their upward trajectory albeit at a sustainable pace. However, investors and homeowners should be mindful of external economic factors such as interest rates and employment levels which could impact affordability and market dynamics. Careful analysis of local developments and broader economic indicators should be undertaken to make informed decisions regarding real estate transactions.
