Placentia, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| 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 | $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) | 15,200 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| 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 Placentia, Newfoundland and Labrador, the real estate market is currently experiencing a steady growth trend. The median house price stands at $485,000, reflecting a 4% year-over-year increase. This incremental growth indicates a stable market that is attracting homeowners due to its affordability compared to other regions. Similarly, the median apartment price has risen to $295,000, which corresponds to a 2.5% year-over-year rise. These statistics suggest moderate demand in the housing sector, with single-family homes showing stronger appreciation.
The local population has reached 15,200 residents, with a healthy growth rate of 2.7%. This demographic trend bodes well for real estate demand as the workforce and consumer base expand, leading to potential increases in rental demand and property value appreciation.
Investment Opportunities and Potential
Given the stable growth in property values and the increasing population, Placentia offers promising investment opportunities. The consistent upward trend in house prices indicates the potential for capital gains over time. Additionally, investors might find apartments an attractive option due to their lower entry price point and positive growth rate.
With the population expanding faster than the national average, there is an expected rise in demand for housing—both rental and owned—which could spur new development projects or encourage renovation of existing properties for higher returns. Investors should consider targeting areas within Placentia that show significant infrastructure development or are likely to benefit from future public or private investments.
Future Market Outlook
The future outlook of Placentia’s real estate market appears optimistic. As population growth continues to outpace many other regions, demand for housing will likely remain robust. With both house and apartment prices trending upwards at a sustainable rate, investors can expect continued appreciation of their real estate assets.
The current economic indicators suggest that Placentia’s real estate market will maintain its trajectory of steady growth. However, potential investors should keep abreast of regional economic developments, changes in interest rates, and government housing policies that may impact future market conditions.
In conclusion, Placentia represents a market with strong fundamentals for both short-term gains through rental income and long-term investment through capital appreciation. By staying informed on local trends and broader economic factors, stakeholders can make strategic decisions to capitalize on the opportunities within this burgeoning market.
