Merasheen, 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 Merasheen, Newfoundland and Labrador currently presents a stable environment with moderate price growth. The median house price stands at $500,000, experiencing a consistent increase at a rate of 3.5% year-over-year. This indicates a healthy demand for single-family homes in the area. In contrast, the median apartment price is somewhat lower at $300,000 but has also seen a positive trend, growing at 2.1% year-over-year.
This growth can be partially attributed to the area’s population increase, which is a significant 7.1%. This population influx may be driving demand for housing, contributing to the upward pressure on property prices. The steady growth suggests a balanced market without the volatility seen in some other Canadian regions.
Investment Opportunities and Potential
With the current population growth trajectory and an upward trend in property values, Merasheen offers appealing investment opportunities for both residential and rental properties. Investors looking to purchase single-family homes can anticipate continued appreciation based on the current year-over-year increases.
The apartment sector also presents potential for investors interested in tapping into the rental market or seeking more affordable entry points into real estate investment. Given the lower median apartment price coupled with steady appreciation, this segment could provide long-term capital gains and rental income stability.
Additionally, new developments or renovation projects could benefit from the increasing demand for modernized living spaces driven by the growing population. Investors should consider these factors when assessing the long-term potential of their real estate investments in Merasheen.
Future Market Outlook
The future outlook for the real estate market in Merasheen remains optimistic due to several key indicators. The sustained population growth suggests that demand for housing will continue to rise, potentially leading to tighter inventory levels and further price increases if supply does not keep pace.
Given the current trends and assuming no significant economic disruptions occur, we can expect both the housing and apartment sectors to maintain their gradual appreciation. Investors and homebuyers may find that entering the market sooner rather than later could be advantageous as prices are likely to climb over time.
In conclusion, while there are always uncertainties in any market forecast, Merasheen’s real estate market shows promising conditions for continued growth and investment potential.
