Newwesvalley, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.3% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Newwesvalley
The real estate market in Newwesvalley, Newfoundland and Labrador, is currently experiencing steady growth. The median house price stands at $485,000, with a positive year-over-year trend of 3.2%. This indicates a healthy demand for housing which aligns with the regional population growth rate of 3.3%. Similarly, the median apartment price has reached $295,000, following an upward trend of 2.3% year-over-year. This suggests a stable and growing market for both houses and apartments.
Investment Opportunities and Potential
Investment opportunities in Newwesvalley appear promising, especially considering the continuous population increase. The consistent rise in property values offers potential for capital gains over time. Housing as an investment seems particularly attractive; given the higher growth rate in median house prices compared to apartments, investors might find more substantial long-term appreciation in this segment. Additionally, the rental market could be lucrative due to the influx of residents, implying that purchasing properties to let could provide stable rental income streams alongside property value appreciation.
Future Market Outlook
The future market outlook for Newwesvalley’s real estate remains optimistic. Given the solid population growth and increasing housing demand reflected in the consistent rise in property prices, the market is expected to maintain its upward trajectory. Economic factors such as employment rates and regional development will play critical roles in sustaining growth momentum. However, investors should consider monitoring local economic policies and infrastructure developments that can impact future real estate values and market dynamics.
In conclusion, Newwesvalley’s real estate market shows strong fundamentals with a positive outlook for both residential housing and apartment sectors, underlined by a growing population and increasing property values.
