Mahers, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $480,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $290,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $480,000 |
| 4 bedrooms | $550,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Mahers, Newfoundland and Labrador, is currently experiencing steady growth. The median house price in the area stands at $480,000, reflecting a year-over-year increase of 3.2%. This suggests a stable market with consistent demand for housing. The apartment sector also shows a positive trend, albeit at a slower pace, with the median apartment price reaching $290,000 and growing at 1.5% over the last year. These trends indicate a balanced market that is favorable for both buyers and sellers.
The population of Mahers has seen a significant increase of 3.3%, which may be contributing to the demand for housing and the consequent rise in property prices. This demographic trend can have various implications on the real estate market, potentially leading to an expanded customer base for local businesses and increased rental demand.
2. Investment Opportunities and Potential
Given the moderate growth in property values, Mahers presents potential investment opportunities for those looking to enter the real estate market. The consistent upward trend in house prices coupled with a strong population growth suggests that there could be long-term appreciation potential for residential properties.
The slower growth rate in the apartment sector indicates that there may be opportunities for investors to acquire properties at a relatively lower entry point compared to houses. This could appeal especially to investors targeting rental income, as the population growth suggests an expanding rental market.
Investors should also consider local economic factors, availability of amenities, and future infrastructure developments when evaluating investment opportunities as these can significantly impact property values and rental demand.
3. Future Market Outlook
The future outlook for Mahers’ real estate market appears cautiously optimistic. The sustained population growth is likely to continue driving demand for housing in both ownership and rental markets. If economic conditions remain favorable and interest rates stable, we can expect a continuation of the current trends with gradual price increases in both houses and apartments.
However, potential investors should remain aware of external economic factors that could influence market dynamics such as fluctuations in employment rates or changes in provincial or federal housing policies. A diversified approach in investment strategy could mitigate risks associated with such uncertainties.
In conclusion, Mahers presents itself as a growing community with solid real estate prospects for both homeowners and investors alike. The consistent yet manageable appreciation in property values provides an attractive environment for investment while still remaining accessible to first-time homebuyers.
