Makinsons, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.4% |
| Stock on market | 0.7% |
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 | $385,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $605,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
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 Makinsons, Newfoundland and Labrador, is currently characterized by steady growth. With a median house price of $495,000 and an annual appreciation rate of 3.4%, the housing market is showing strong resilience despite broader economic pressures. Similarly, the apartment sector is also on an upward trajectory, with median prices at $295,000 and a growth trend of 2.5% year-over-year.
This positive momentum can be partly attributed to the consistent population growth in the region, which has increased by 3.3%. The influx of residents is creating a robust demand for housing, both in the purchase and rental segments. Additionally, low interest rates have been a significant factor in facilitating home purchases and investments alike.
Investment Opportunities and Potential
Makinsons presents attractive investment opportunities within the real estate market. The steady increase in property values indicates a stable environment for long-term investment. The rise in median house prices suggests that investing in residential real estate could yield significant returns over time.
For those interested in income-generating properties, the growing population suggests that rental properties are likely to be in high demand. Therefore, purchasing apartments or homes with the intent to rent them out could be a lucrative venture. Given the current trajectory of apartment price trends at 2.5% year-over-year growth, investors might find this segment particularly appealing due to potentially lower entry costs compared to standalone houses.
Future Market Outlook
The future outlook for Makinsons’ real estate market remains positive. The continuous population growth serves as a strong indicator that demand for housing will persist. Assuming economic conditions remain supportive, both the residential housing and apartment markets are expected to maintain their upward trends.
However, investors should also consider broader economic factors that could impact the market dynamics, such as changes in interest rates, employment levels within Newfoundland and Labrador, and regional development initiatives that may affect property values. Vigilance regarding these factors will be key in making informed decisions for real estate investment in Makinsons.
In conclusion, with prudent analysis and strategic planning, real estate investment in Makinsons holds promising potential for those looking to capitalize on its current growth trajectory and favorable market conditions.
