Milton, 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 | $450,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
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
1. Current Market Conditions and Trends
The real estate market in Milton, Newfoundland and Labrador is currently experiencing a period of moderate growth. The median house price stands at $500,000, indicating a healthy year-over-year increase of 3.5%. This suggests a steady demand for housing and a robust market performance relative to the previous year.
Similarly, the apartment sector has shown positive movement with the median apartment price reaching $300,000, which corresponds to a year-over-year rise of 2.1%. This growth rate, while more modest than that of houses, points to a sustained interest in multi-family residential options.
The population of Milton has reached approximately 15,000 residents, undergoing a significant growth rate of 7.1%. Such demographic expansion serves as an underlying driver for the increased housing demand seen within the community.
2. Investment Opportunities and Potential
The consistent upward trend in property values combined with robust population growth positions Milton as an attractive location for real estate investment. Investors can leverage the increasing demand for both single-family homes and apartments, with the former showing slightly higher appreciation rates.
Given the persistent rise in median house prices, investors might find greater long-term capital gains potential in this segment. However, apartments should not be overlooked due to their more accessible price points and appeal to smaller households or those seeking lower maintenance living arrangements.
Diverse investment strategies could include purchasing rental properties to capitalize on potential rent increases or engaging in property development to address the growing housing needs of the expanding population.
3. Future Market Outlook
The future real estate market outlook for Milton appears optimistic based on current trends and data. With the population projected to continue its upward trajectory, demand for housing is expected to remain strong. This bodes well for sustained property value appreciation over time.
The health of Milton’s real estate market will also likely be influenced by broader economic conditions, interest rates, and local employment opportunities. Should these factors remain favorable, the market is poised for ongoing growth.
In conclusion, potential investors should monitor local developments closely but can be cautiously optimistic about entering or expanding their presence in Milton’s real estate landscape.
