Lawn, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| 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 | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $400,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| 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 Lawn, Newfoundland and Labrador currently exhibits a stable growth pattern. With a median house price of $485,000, the market has witnessed a moderate year-over-year increase of 3.2%. This indicates a steady demand for housing that is not prone to significant volatility. The median apartment price stands at $295,000, following a slightly lower growth trend of 2.5% year-over-year. This difference in growth rates suggests that houses are possibly in higher demand compared to apartments or might offer features more aligned with buyers’ preferences in Lawn.
Lawn’s population has shown an uptick of 3.3%, which may contribute to the sustained demand for residential properties. An expanding population often signals a healthy local economy and can lead to increased investment in infrastructure and services, further bolstering the real estate market.
Investment Opportunities and Potential
The consistent growth in property values combined with a growing population presents attractive investment opportunities in Lawn’s real estate market. The upward trend indicates potential for capital gains over time, making it an appealing option for long-term investors looking for stability rather than speculative short-term gains.
Investors should also consider the broader economic context of Newfoundland and Labrador, including employment rates, local industry health, and development projects that could impact property values. Rental properties could be particularly lucrative given the population growth, as newcomers will likely seek temporary housing solutions before purchasing homes.
Future Market Outlook
The future outlook of Lawn’s real estate market appears cautiously optimistic. Continued population growth coupled with steady increases in property values suggests that the demand for housing will remain robust. However, investors should remain aware of regional economic factors that may influence the market’s trajectory.
It is also important to monitor potential changes in interest rates, as they can affect affordability and thus impact buyers’ activity levels. Assuming economic conditions remain favorable and no major shifts occur in interest rates or housing policies, Lawn’s real estate market is poised to maintain its current path of gentle growth.
