Mahers, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.9% |
| 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 | $395,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,000 |
| Population Change | 5.1% |
| 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
As of the latest available data, the real estate market in Mahers, Newfoundland and Labrador has been experiencing a period of moderate growth. The median house price in the region stands at $485,000, which represents a 3.9% increase year-over-year. This suggests a healthy demand for housing, coupled with a market that is appreciating at a steady rate. In comparison to national averages, this growth rate is relatively balanced, avoiding the volatility seen in some of Canada’s larger markets.
Similarly, the median apartment price is currently $295,000, following a 2.5% rise year-over-year. This slower appreciation rate indicates that apartments are becoming more valuable as well but at a more gradual pace than houses. This could be reflective of differing demand dynamics in the apartment sector or potentially a greater supply that is keeping prices from rising as quickly.
The population of Mahers has grown to 15,200 residents, with a significant growth rate of 5.14%. This influx of new residents is likely contributing to increased demand for housing across both segments of the market.
Investment Opportunities and Potential
The current trends indicate a market that offers potential for investment opportunities. The steady appreciation of house and apartment prices suggests that purchasing real estate in Mahers could lead to capital gains over time. Furthermore, the robust population growth points towards an enduring demand for rental properties, presenting an opportunity for investors interested in income-generating assets.
Investors should take note of the consistent upward trend in property values when considering long-term investments in residential real estate. The data suggests that investments made now may benefit from continued appreciation over the coming years. Additionally, new developments or improvements in local infrastructure may further bolster property values and enhance investment returns.
Future Market Outlook
The future market outlook for Mahers appears cautiously optimistic. Given the stable year-over-year growth in property values and significant population increase, it is reasonable to expect that these trends will continue into the near future. However, as with any real estate market forecast, it’s essential to remain aware of external factors such as economic shifts, changes in interest rates, and government housing policies that could affect market dynamics.
The sustained population growth will likely keep driving demand for both ownership and rental housing units. Provided that supply does not outpace this demand significantly, prices should maintain their upward trajectory. Investors and homebuyers contemplating entering the Mahers real estate market would be wise to monitor local developments closely and remain informed about broader national economic trends that could impact their investment decisions.
