Peterview, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.8% |
| 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 | $420,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Peterview, Newfoundland and Labrador is currently experiencing moderate growth. With a median house price of $485,000, the market has seen a 2.8% increase year-over-year, indicating a steady upward trend in property values. Similarly, the apartment sector also shows positive growth with a median price of $295,000 and a 1.8% rise year-over-year. This growth correlates with the area’s population increase of 4.8%, suggesting that demand for housing is on the rise in line with demographic changes.
Investment Opportunities and Potential
The current trends in Peterview point to healthy investment opportunities, particularly for those looking to enter the market before prices potentially rise further. Given the steady growth in both house and apartment prices, coupled with significant population expansion, investors could expect continued appreciation in property values over time. The rental market may also offer attractive returns due to the increasing population and consequent demand for housing.
Future Market Outlook
Looking ahead, Peterview’s real estate market shows promising signs for sustained growth. The consistent rise in property prices and ongoing population growth suggest a robust demand for housing that is likely to persist. As such, the future outlook remains positive for both homeowners and investors alike. However, prospective buyers and investors should monitor local economic conditions and be aware of external factors that could impact the market’s trajectory.
