Pinware, 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 Pinware, NL
The real estate market in Pinware, Newfoundland and Labrador is currently experiencing moderate growth. With the median house price at $500,000 and an upward trend of 3.5% year-over-year, the market is showing healthy signs of appreciation. Similarly, the apartment sector is also witnessing growth with a median price point at $300,000 and an annual increase of 2.1%. This steady growth can be attributed to various factors including local economic development and a burgeoning demand for housing driven by the area’s population growth, which stands at an impressive 7.1%. This suggests that Pinware is attracting new residents, likely due to employment opportunities or lifestyle choices that favor smaller community living.
Investment Opportunities and Potential in Pinware, NL
Given the steady market trends observed in Pinware, there are multiple investment opportunities for both residential properties and rental units. The consistent rise in property values indicates a strong potential for capital gains over time. For investors seeking income-generating assets, the growing population—indicative of a rising demand for rental accommodations—presents a favorable environment for investing in apartments and family homes. As the median prices indicate room for growth compared to major urban centers, this could be an opportune time for investors to enter the market before prices escalate further.
Future Market Outlook for Pinware, NL
The future outlook of Pinware’s real estate market appears promising based on current trends and demographic indicators. With a significant population increase of 7.1%, it’s expected that the demand for both ownership and rental properties will continue to grow. This demand is likely to fuel ongoing market appreciation in the coming years. Assuming no major economic disruptions occur and interest rates remain favorable, we can anticipate continued moderate growth in property values. However, potential investors should also consider external economic factors such as employment rates and regional developments that could influence future market conditions.
Overall, Pinware’s real estate market presents a balanced mix of stability and growth potential that can appeal to both homeowners looking to settle in an expanding community and investors seeking assets with appreciating value.
