Makinsons, 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
1. Current Market Conditions and Trends
The real estate market in Makinsons, Newfoundland and Labrador is currently experiencing steady growth. With a median house price of $500,000 and an annual appreciation rate of 3.5%, the market is demonstrating resilience and a positive trend in property values. Similarly, the median apartment price stands at $300,000 with a slightly lower year-over-year growth rate of 2.1%. These figures suggest that while houses are seeing a greater increase in value, apartments are also maintaining a consistent upward trajectory.
The population of Makinsons has seen a significant increase of 7.1%, indicating a growing demand for housing in the area. This growth can be attributed to several factors, including the town’s economic development, lifestyle appeal, and potentially favorable conditions for newcomers.
2. Investment Opportunities and Potential
Given the steady climb in property values and the robust population growth, Makinsons presents attractive investment opportunities. Investors may benefit from both capital appreciation and rental income potential in this market. The current trends suggest that purchasing residential properties could yield positive returns over time as the demand for housing continues to rise alongside population growth.
Investors looking into the apartment sector can capitalize on the slightly lower price point and annual appreciation rate to enter the market with potentially lower initial investment requirements. With an increase in population that may include individuals seeking more affordable or smaller-scale living spaces, apartments could offer high occupancy rates and stable rental yields.
3. Future Market Outlook
The future real estate market outlook for Makinsons remains optimistic based on current trends and data. If the population continues to grow at its current rate or higher, it is reasonable to anticipate continued demand for housing which would support further property value increases.
As more people settle in Makinsons, infrastructure development and improvements are likely to follow, potentially attracting even more residents and investors alike. However, it is important for investors to monitor local economic conditions as they can influence employment opportunities and consequently, the real estate market’s health.
In conclusion, while external economic factors such as interest rates and national economic performance can impact local markets like Makinsons’, the present conditions indicate a healthy outlook for both short-term investments and long-term portfolio growth.
