Marystown, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.3% |
| Stock on market | 0.6% |
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 | $375,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| 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 is currently experiencing moderate growth. With a median house price of $495,000, the local housing market has seen a steady increase, with prices appreciating by 3.3% year-over-year. This suggests a stable environment for homeowners and investors alike. The median apartment price stands at $295,000, which also shows a positive trend with a 2.5% year-over-year increase.
The population of Marystown has grown to 15,200 residents, displaying a significant population growth rate of 4.8%. This demographic trend can contribute to increased demand for housing as more people move into the area seeking employment opportunities and residential stability.
Investment Opportunities and Potential
The investment landscape in Marystown presents several promising avenues for potential investors. The consistent rise in property values indicates a healthy demand for residential real estate. Single-family homes, given their higher median price point and year-over-year growth, offer potentially higher returns on investment due to the strong market performance.
Apartments represent an attractive entry point for those looking to invest in rental properties or seeking lower-priced assets with steady appreciation. Given the population growth, there is potential for rental demand to increase, which could drive both occupancy rates and rental yields upwards over time.
Investors should also consider the wider economic factors at play within Marystown, including local job markets, infrastructure projects, and community developments that may impact future real estate values.
Future Market Outlook
The future outlook of the Marystown real estate market remains optimistic based on current trends. Population growth is likely to sustain the demand for housing, while economic stability will continue to support property value appreciation. Assuming that these trends persist, investors can expect ongoing opportunities for capital gains and rental income growth.
However, it is crucial for investors to monitor external economic indicators such as interest rates, employment figures, and regional economic policies as they can significantly influence market dynamics. A proactive approach in analyzing these factors will be beneficial in making informed decisions regarding real estate investments in Marystown.
In conclusion, Marystown’s real estate market currently offers stability with its steady growth patterns. As with any investment, due diligence is key—keeping abreast of both local developments and broader economic conditions will ensure investors can capitalize on opportunities within this burgeoning market.
