Paulatuk, Northwest Territories 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
1. Current Market Conditions and Trends
The real estate market in Paulatuk, Northwest Territories, is currently characterized by steady growth. With a median house price of $500,000, the market has seen a 3.5% year-over-year increase. This indicates a consistent demand for housing and a stable investment environment. Similarly, the median apartment price stands at $300,000, with a more modest growth rate of 2.1% year-over-year. The population of Paulatuk has reached approximately 15,000 residents, with a significant growth rate of 7.1%. This demographic expansion suggests that demand for housing will continue to rise, which could further drive property values upward.
2. Investment Opportunities and Potential
The positive trends in population growth coupled with increasing property values present attractive investment opportunities in Paulatuk’s real estate market. Investors should note the higher growth rate in house prices compared to apartments, which might indicate a stronger or more immediate potential for return on investment in the single-family home market. However, apartments offer a lower entry point for investors and could be a strategic choice for those looking to capitalize on rental income, especially considering the burgeoning population that may include renters seeking affordable housing options.
3. Future Market Outlook
Moving forward, the outlook for the Paulatuk real estate market appears optimistic. Assuming current trends persist, investors can expect continued appreciation in property values. The robust population growth rate serves as an indicator of sustained demand, which should support the real estate market’s stability and growth potential over the long term. Stakeholders should monitor economic drivers in the region that could affect employment rates and income levels, as these factors will play critical roles in shaping future market conditions.
