Mcivers, 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
Current Market Conditions and Trends
The real estate market in McIvers, Newfoundland and Labrador, is currently experiencing steady growth. With a median house price of $500,000 and an annual appreciation trend of 3.5%, the market is demonstrating resilience and a positive trajectory. The median apartment price is set at $300,000, which has seen a slightly lower year-over-year increase of 2.1%. These figures indicate a stable environment for both detached homes and multi-family units.
The population of McIvers has grown to 15,000 residents, marking a significant growth rate of 7.1%. This demographic expansion suggests increased demand for housing and could be attributed to factors such as economic development, job opportunities, or lifestyle preferences favoring the region.
Investment Opportunities and Potential
Given the steady growth in property values and the notable population increase, McIvers presents itself as an appealing area for real estate investment. The consistent rise in house prices implies a reliable appreciation of assets over time, which can be attractive for long-term investors seeking capital gains. The apartment sector also offers potential due to its more modest price increase; it caters to a different segment of the market that may be looking for affordable housing or rental opportunities.
Investors might also consider exploring new construction projects or renovation opportunities to meet the housing demand driven by the growing population. The positive migration trend could lead to an undersupply if not addressed, making developments aimed at expanding the housing stock potentially lucrative.
Future Market Outlook
The outlook for McIvers’ real estate market remains optimistic. As the population continues to grow, demand for housing is likely to persist. If current trends hold, property values can be expected to keep rising at a healthy pace. However, it is important for investors and stakeholders to monitor local economic conditions and any policy changes that could impact the market dynamics.
The infrastructure improvements and business investments that typically accompany population growth could further bolster property values. Nonetheless, vigilance is advised since external factors such as interest rate fluctuations or broader economic shifts can influence local market conditions.
In summary, McIvers offers promising opportunities for real estate investment with its current trends indicating a potential for continued growth in property value and demand. Investors should remain informed on regional developments to make strategic decisions aligned with future market movements.
