Newville, 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 Newville, Newfoundland and Labrador, currently showcases a stable growth pattern. With a median house price standing at $500,000, the market has experienced a year-over-year increase of 3.5%. Similarly, the median apartment price is at $300,000, reflecting a more modest annual growth of 2.1%. The population in Newville is approximately 15,000 residents, which has grown by 7.1%. This population growth indicates an increasing demand for housing, contributing to the steady appreciation in property values.
Investment Opportunities and Potential
Newville’s real estate market offers promising investment opportunities due to its consistent growth trends. The ongoing rise in median house and apartment prices suggests a strong potential for capital gains for investors over the long term. Additionally, the significant population growth signals robust rental demand, which could be lucrative for investors looking to enter the rental market or expand their portfolio with rental properties.
Future Market Outlook
The future outlook for Newville’s real estate market appears optimistic. Given the current trends of property value increases and substantial population growth, it is likely that the demand for housing will continue to rise. This upward trajectory provides a favorable environment for both homeowners and investors looking to capitalize on Newville’s growing market. However, potential investors should also consider external economic factors and local development plans that could influence future market conditions.
