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 in Lourdes, Newfoundland and Labrador
The real estate market in Lourdes, Newfoundland and Labrador, is currently experiencing steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%. This indicates a healthy demand for housing in the area. The median apartment price stands at $300,000, with a slightly lower growth trend of 2.1% over the past year. The positive trends across both housing types suggest that the market is robust and continuing to develop.
The population of Lourdes has reached approximately 15,000 residents and has witnessed a significant increase of 7.1% in population growth. This demographic change is likely contributing to the sustained demand for housing and could be a driving factor behind the rising prices. A growing population often correlates with increased economic activity, which may result in further expansion of the real estate market.
Investment Opportunities and Potential in Lourdes
Given the current real estate trends and demographic data, Lourdes offers promising investment opportunities. The consistent rise in property values for both houses and apartments points to a stable investment environment with potential for capital appreciation. Investors may find particular interest in residential properties due to the steady population growth fueling demand.
For those considering rental investments, the growing population suggests that there could be an expanding market for rental properties. Investors could capitalize on both short-term gains through rental income and long-term appreciation of property values. The diversity in property types, from single-family homes to apartments, allows investors to choose investments that align with their strategies and target demographics.
Future Market Outlook for Lourdes
The future market outlook for Lourdes appears positive based on current data. With an upward trend in property values and a burgeoning population, it is likely that this momentum will continue into the foreseeable future. If the population continues to grow at or near the current rate of 7.1%, demand for housing will remain strong, further stimulating the real estate market.
However, potential investors should closely monitor economic factors such as employment rates, local industry performance, and interest rates as they can significantly impact real estate markets. A well-rounded analysis that takes into consideration both local and broader economic indicators will be essential for making informed investment decisions.
In summary, Lourdes presents itself as an attractive market for real estate investment with its current growth patterns. As long as favorable conditions persist—such as population growth and economic stability—the outlook remains promising for both existing property owners and prospective investors in this region of Newfoundland and Labrador.
