Lanseamour, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Lanseamour, Newfoundland and Labrador is currently experiencing steady growth. The median house price in the region stands at $500,000, with a year-over-year increase of 3.5%. This indicates a healthy upward trend that is slightly above inflation, suggesting that the housing market in Lanseamour is becoming increasingly valuable.
In comparison, the median apartment price is lower, at $300,000, with a year-over-year growth of 2.1%. While this growth is more modest than that of houses, it still points to a positive trajectory for apartment values in the area. This slower rate of increase may make apartments more accessible to first-time homebuyers or investors looking for a more affordable entry point into the real estate market.
The population of Lanseamour has seen significant growth, with an increase of 7.1% which could be contributing to the demand for housing and helping to drive up prices. With a growing population, there are likely more households looking for accommodation, thereby strengthening the housing market.
Investment Opportunities and Potential
The steady rise in property values suggests that Lanseamour holds promising investment opportunities. For investors focused on long-term capital gains, purchasing residential properties could be a sound strategy. Given the current trends, houses represent a higher growth potential but also require a larger initial investment.
Apartments offer a lower barrier to entry for property investment and may be particularly appealing to investors seeking rental income. With population growth outpacing new housing developments, rental demand is likely to remain strong, potentially leading to higher rental yields over time.
Investors should also consider emerging neighbourhoods within Lanseamour where new developments or infrastructure projects might lead to above-average appreciation rates for properties in those areas.
Future Market Outlook
The future outlook for Lanseamour’s real estate market appears optimistic given current trends and demographic factors. If the population continues to grow at its current pace or faster due to economic opportunities or lifestyle attractions in the region, demand for housing will likely increase further.
This demand could put upward pressure on both house and apartment prices, potentially resulting in greater appreciation rates than currently observed. However, investors should also keep an eye on local economic developments and any changes in housing supply which could affect future price movements.
In conclusion, while there are no guarantees in real estate investment, Lanseamour presents an attractive profile for both immediate investment and future growth potential based on current data. Those considering entering the market should continue monitoring these trends closely and conduct thorough due diligence before making any investment decisions.
