Mcivers, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.5% |
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 | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $400,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 15,000 |
| Population Change | 1.3% |
| Total Private Dwellings | 6,100 |
| 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 McIvers, Newfoundland and Labrador, has been experiencing a steady increase in property values. The median house price currently stands at $485,000, reflecting a year-over-year growth of 4%. This trend indicates a healthy demand for housing in the area. The market for apartments is also on the rise, with the median apartment price at $295,000, growing at a slightly lower rate of 2.5% year-over-year.
These conditions suggest that McIvers is in a seller’s market, where demand outpaces supply, leading to price increases. However, the growth rates are moderate enough to prevent the market from overheating, thus ensuring sustainable long-term growth.
Investment Opportunities and Potential
Given the current trajectories of house and apartment prices, McIvers presents compelling investment opportunities. The steady population growth of 1.3%, which now stands at approximately 15,200 residents, implies an ongoing need for housing. Investors can take advantage of these conditions by investing in residential properties that are likely to appreciate over time.
The moderate yet consistent price increase across both housing types suggests that investments in the area are relatively low-risk with the potential for stable returns. Rental properties may be particularly appealing due to the continuous influx of residents seeking accommodation, potentially providing investors with a steady stream of rental income.
Future Market Outlook
The future real estate market outlook for McIvers appears positive. The sustained population growth contributes to an enduring demand for housing. Assuming current economic conditions remain stable or improve, property values are likely to continue their upward trajectory. However, it is crucial for investors to keep an eye on economic drivers such as employment rates and regional development projects that could significantly impact the real estate landscape.
In summary, while rapid spikes in property values are not anticipated based on current trends, McIvers’ real estate market is expected to grow healthily over time. This makes it an attractive destination for both homebuyers looking for a stable place to live and investors seeking long-term capital appreciation.
