Lamaline, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $487,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $487,000 |
| 4 bedrooms | $580,000 |
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) | 14,800 |
| Population Change | 2.7% |
| 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
In Lamaline, Newfoundland and Labrador, the real estate market is currently experiencing a steady increase in property values. With the median house price standing at $487,000, there has been a 4.2% year-over-year increase, indicating a healthy and growing demand for housing in the area. Similarly, apartments are becoming more valuable, with a median price of $295,000 and a growth trend of 2.5% year-over-year. This consistent upward trajectory suggests that the market is robust and that properties are maintaining their value over time.
The population of Lamaline has been growing at a rate of 2.7%, which is likely contributing to the increased demand for housing. As the population grows, so does the need for more residential properties, which can put upward pressure on both pricing and rental rates.
Investment Opportunities and Potential
Lamaline’s expanding real estate market presents an array of investment opportunities. The steady appreciation in property values suggests that investing in residential real estate could yield positive returns over time. For investors looking to enter the market or expand their portfolio, targeting single-family homes could be particularly promising given their higher rate of appreciation compared to apartments.
The area’s population growth further strengthens its potential for investment. A growing population often leads to increased rental demand, making buy-to-rent properties an attractive option for investors seeking consistent cash flow. Additionally, new developments or refurbishments in older neighborhoods could cater to those looking for modern amenities, potentially offering higher returns on investment due to their appeal to prospective tenants or buyers.
Future Market Outlook
The future real estate market outlook for Lamaline looks optimistic based on current trends. The consistent rise in property prices reflects enduring market confidence and suggests that this momentum may continue into the foreseeable future. The ongoing population growth should sustain demand for housing, supporting both home values and rental rates.
To capitalize on this positive outlook, investors and homeowners should monitor regional economic indicators such as employment rates, infrastructure development plans, and interest rates as they can impact buyer purchasing power and investor return on investment. Consideration of these factors will be essential for those looking to make informed decisions about entering or exiting the Lamaline real estate market.
In summary, Lamaline’s real estate market is characterized by rising property values amidst a growing population. While current trends indicate continued growth, careful consideration of broader economic conditions will be crucial in maximizing investment outcomes.
