Musgravetown, 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 | 0.9% |
Apartment
| Median price | $275,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $325,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.4 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Musgravetown, Newfoundland and Labrador, is currently experiencing a period of steady growth. With a median house price of $485,000 and an annual growth rate of 4%, the market reflects a healthy demand for single-family homes. Similarly, the apartment sector is also showing positive movement with a median price of $275,000 and a year-over-year increase of 2.5%. The population growth of 3.4% in this region underpins these trends, suggesting a robust and expanding community that is actively supporting the local housing market.
Investment Opportunities and Potential
The consistent growth in housing prices coupled with the burgeoning population indicates significant investment opportunities in Musgravetown. Investors might be particularly interested in the single-family home sector given its stronger year-over-year price increase. The positive trend suggests that purchasing residential property could yield appreciable capital gains over time. Moreover, the rental market is likely to be buoyant due to the population increase, providing potential for stable rental income streams for investors interested in apartments or multi-family dwellings.
Future Market Outlook
Looking ahead, the future market outlook for Musgravetown remains optimistic. The solid population growth indicates sustained demand for housing which should continue to support both property values and rental rates. However, investors and homebuyers should monitor local economic indicators and development plans as these will influence long-term property values and rental market dynamics. If current trends prevail, Musgravetown’s real estate market could maintain its upward trajectory, making it an attractive location for both residential buyers and real estate investors.
