Markland, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $335,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Markland, Newfoundland and Labrador has been experiencing a period of steady growth. The median house price in the region currently stands at $485,000, marking a 2.8% year-over-year increase. This suggests a healthy demand for single-family homes, possibly driven by both local buyers and those looking to relocate to the area.
Similarly, the apartment sector shows a positive trend with a median price of $295,000 and an annual appreciation rate of 1.9%. This more modest increase reflects a consistent but slower growth rate compared to houses, which may be indicative of different market dynamics or investor behavior in the apartment sector.
Investment Opportunities and Potential
With a burgeoning population that has grown by 4.8%, reaching approximately 15,200 residents, there is clear evidence of Markland’s expanding community. This demographic expansion presents potential for investors considering residential real estate opportunities. The consistent rise in property values suggests that investments made in the current market could continue to appreciate over the coming years.
New developments and infrastructure projects aligned with population growth can also present lucrative opportunities. Investors may look into new construction projects or renovations of existing properties to cater to the increasing housing demand. Apartment complexes could especially become attractive investments given their more affordable entry price point and appeal to individuals or small families looking for rental options.
Future Market Outlook
The future real estate market outlook for Markland appears optimistic. Assuming current trends persist, the ongoing population growth is likely to fuel continued demand for housing. The steady appreciation of house and apartment prices indicates a stable market with potential for long-term capital gains.
However, it is essential for investors to consider economic factors such as employment rates, local industry performance, and government policies that could influence the real estate landscape. Keeping abreast of these factors will be crucial for making informed investment decisions and capitalizing on Markland’s market potential.
