Marystown, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $585,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,100 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.1% |
| Total Private Dwellings | 6,100 |
| 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 Marystown, Newfoundland and Labrador, has been exhibiting steady growth. The median house price stands at $485,000, which indicates a modest year-over-year increase of 3%. Similarly, the median apartment price is currently $295,000, following a 2% year-over-year upward trend. These statistics suggest a healthy and gradually appreciating housing market.
The population of Marystown has grown to 15,100 residents, with a notable growth rate of 4.1%. This demographic expansion is likely contributing to the sustained demand for housing in the area, which in turn is supporting the positive price trends observed within the local market.
Investment Opportunities and Potential
Considering the current trends, Marystown offers promising investment opportunities. The continuous population increase coupled with modest but consistent appreciation in property values points to a stable environment for real estate investment. Houses show slightly higher growth in prices compared to apartments, indicating potential for greater returns on investment in single-family homes.
The market conditions also suggest that rental properties may be an attractive option for investors looking to capitalize on the influx of new residents seeking accommodation. Given the ongoing population growth, demand for rental units is likely to remain strong, providing investors with sustained rental income opportunities.
Future Market Outlook
The future outlook for Marystown’s real estate market remains optimistic. The steady population growth suggests continued demand for housing which may lead to further increases in property values over time. If current trends persist, investors can expect ongoing incremental growth in both house and apartment prices.
However, investors should also be aware of broader economic factors that could influence local market conditions such as employment rates, interest rates, and government policies related to housing and development. Monitoring these factors will be key to making informed investment decisions moving forward.
In conclusion, Marystown presents itself as an attractive market for both residential property buyers and real estate investors. With its stable growth patterns and positive prospects for the future, stakeholders can engage with confidence while keeping an eye on external variables that could impact their investments.
