Nain, 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
In Nain, Newfoundland and Labrador, the real estate market is currently experiencing moderate growth. The median house price stands at $500,000, with a positive year-over-year trend of 3.5%. This indicates a steadily appreciating housing market. On the other hand, the median apartment price is $300,000, with a slightly lower yet consistent year-over-year growth rate of 2.1%. These trends suggest that while both segments of the housing market are growing, houses are seeing a marginally higher appreciation rate.
Investment Opportunities and Potential
The investment landscape in Nain offers promising opportunities, particularly in light of its population growth of 7.1%. This demographic expansion outpaces many other regions and suggests increasing demand for housing. For investors looking at long-term capital appreciation, single-family homes present a potentially lucrative option given their higher growth rate. Apartments also offer investment potential due to their affordability and appeal to smaller households or renters.
Future Market Outlook
The future outlook for Nain’s real estate market appears optimistic. Given the steady price appreciation coupled with significant population growth, demand for housing is likely to remain robust. The current trends suggest that both houses and apartments will continue to appreciate, albeit at a moderate pace. Investors and homebuyers can potentially benefit from entering the market now, before prices escalate further due to increased demand driven by population growth.
