Markland, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| 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 | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| 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
In Markland, Newfoundland and Labrador, the real estate market has been demonstrating a steady growth with median house prices currently at $485,000, showing a year-over-year increase of 3.2%. The market for apartments is also experiencing growth, albeit at a slightly lower rate, with median apartment prices at $295,000 and a year-over-year trend of 2.5%. This progression in the real estate market is concurrent with the population growth of 3.4%, which has increased the local population to approximately 15,000 residents.
2. Investment Opportunities and Potential
The consistent growth in property values coupled with the notable population increase suggests that Markland is an area ripe for investment opportunities. Investors may find particular potential in the housing sector due to the higher increase in house prices compared to apartments. The positive price trend indicates that purchasing residential properties now could yield substantial returns as demand continues to rise alongside population growth. The modest yet steady appreciation of apartment prices also presents an opportunity for investors looking for long-term rental income, particularly as the region’s demographic expands.
3. Future Market Outlook
The future outlook for Markland’s real estate market appears promising given its current trends and demographic growth. With a population increase of 3.4%, demand for housing is projected to remain strong, potentially driving further price increases for both houses and apartments. As long as economic conditions remain favorable and the local economy continues to support job growth, Markland’s real estate market should maintain its upward trajectory. However, investors should monitor economic indicators and be aware of external factors that could impact the market dynamics, such as changes in interest rates or regional employment trends.
