Placentia, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $410,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $245,000 |
| 2 bedrooms | $345,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| 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 Placentia, Newfoundland and Labrador has been exhibiting steady growth over the past year. With a median house price of $485,000, the market has seen a 3.2% increase year-over-year. This suggests a healthy demand for housing in the area, reflecting an upward trajectory in property values. Similarly, the median apartment price stands at $295,000 with a slightly lower growth rate of 2.5% year-over-year. Despite the different growth rates, both housing types are appreciating, indicating balanced market conditions.
The population of Placentia is approximately 15,000 and has experienced a notable growth of 3.4%. This demographic development contributes to the increased demand for housing and can be seen as a positive indicator for sustained market activity.
Investment Opportunities and Potential
Given the steady rise in property values and consistent population growth, Placentia presents itself as a promising locale for real estate investment. The modest yet continuous appreciation in house and apartment prices points to solid investment potential especially for those looking to hold properties long-term. The town’s increasing population could also signal future needs for rental properties which investors can capitalize on.
The diversification between house and apartment price trends offers investors varied options to match their strategies with market performance. Houses have shown slightly stronger appreciation which might appeal to investors seeking higher capital gains while apartments offer more accessible entry points into the market with potential for rental income.
Future Market Outlook
As the population of Placentia continues to grow, it is reasonable to anticipate further demand for housing which should positively impact property values over time. Assuming current trends persist, investors can expect continued gradual appreciation in both houses and apartments.
However, it is important for investors to also consider economic factors such as employment rates, local industry performance, and regional development initiatives which could influence future property values. Monitoring these variables will be key in assessing the resilience of Placentia’s real estate market.
In conclusion, Placentia’s real estate market shows positive signs with its growing population driving demand. The consistent increase in property values provides a favorable environment for both short-term investors seeking quick returns through flipping or long-term investors focusing on rental income or capital gains.
