Lamaline, 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 | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $570,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,600 |
| Population Change | 4.1% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Lamaline, Newfoundland and Labrador, the real estate market is currently experiencing steady growth. The median house price stands at $485,000, which marks a 4% year-over-year increase. This consistent upward trend indicates a healthy demand for housing in the area. Similarly, the median apartment price has increased to $295,000, showing a 2.5% rise from the previous year. These trends suggest that both segments of the housing market – houses and apartments – are gradually appreciating.
The population of Lamaline has reached approximately 15,200 residents, with a significant population growth rate of 4.1%. This demographic development supports the ongoing demand for real estate in the region. With more people moving to Lamaline or choosing to reside longer in the area, the need for residential properties is likely to remain strong.
Investment Opportunities and Potential
Given the current market conditions, Lamaline offers promising investment opportunities in real estate. The consistent appreciation in property values provides investors with the potential for capital gains over time. For those interested in rental properties, the growing population suggests a robust rental market with potential for steady income streams.
With house prices showing a higher growth rate compared to apartments, investing in single-family homes could be particularly advantageous for those looking to maximize appreciation potential. On the other hand, apartments offer a more accessible entry point into the market and may appeal to investors seeking lower initial investments while still benefiting from value appreciation.
Additionally, new developments and infrastructure projects may present further investment opportunities as they can lead to increased desirability of certain areas within Lamaline and potentially higher property values.
Future Market Outlook
The future outlook for Lamaline’s real estate market remains positive based on current trends and demographic data. The consistent growth in population size is expected to sustain demand for housing, which should support continued appreciation in property values.
If current trends persist, both housing segments – houses and apartments – are likely to experience further growth in value. However, prospective investors and homeowners should monitor key economic indicators such as employment rates, interest rates, and regional economic development plans as these factors can significantly influence market dynamics.
In conclusion, with careful consideration of local conditions and strategic investment choices, stakeholders can look forward to a dynamic and prosperous real estate market in Lamaline.
