Lourdes, 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 Lourdes, Newfoundland and Labrador is currently experiencing steady growth. With a median house price of $500,000 and an annual increase of 3.5%, the market shows a healthy upward trend that reflects both demand and consumer confidence. Similarly, the apartment sector has seen a rise in value with a median price of $300,000 and a year-over-year growth rate of 2.1%. This suggests that while houses are appreciating at a slightly faster pace, apartments are also gaining value consistently.
The region’s population has grown by 7.1%, indicating an influx of residents which could be attributed to various factors including employment opportunities, lifestyle preferences, or demographic shifts such as urbanization. This population growth can directly impact housing demand, potentially leading to more competitive market conditions for buyers while providing sellers with multiple opportunities to capitalize on their investments.
Investment Opportunities and Potential
Given the continuous appreciation in property values and stable increase in population, Lourdes presents several attractive investment opportunities. For investors looking at long-term gains, purchasing residential properties could be lucrative due to the consistent year-over-year price increases. The 3.5% increase in median house prices suggests that single-family homes might offer substantial equity growth over time.
Apartments also represent a significant investment potential with their 2.1% annual price increase. Investors may consider the apartment market for rental income possibilities given the growing population that may include renters seeking affordable housing options.
Additionally, the strong population growth rate opens avenues for investment in new developments and construction projects aimed at meeting the rising housing demand. Such investments could not only benefit individual investors but also contribute positively to the local economy.
Future Market Outlook
The future outlook for Lourdes’ real estate market remains optimistic based on current trends and data. If the population continues to grow at its current rate or higher, it is likely that housing demand will remain robust, underpinning further property value increases. The sustained growth in both house and apartment prices points towards a resilient market with ongoing potential for capital gains.
However, it is important for investors to monitor economic indicators such as employment rates, income levels, interest rates, and regional economic development initiatives since these factors can influence market dynamics significantly.
In conclusion, Lourdes offers promising prospects for both residential property buyers and investors supported by positive trends in property values and demographic growth. Careful analysis and strategic planning are recommended for those looking to enter or expand their portfolio within this vibrant market.
