Quirpon, 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
The real estate market in Quirpon, Newfoundland and Labrador, is currently experiencing steady growth. With a median house price of $500,000 and an annual appreciation trend of 3.5%, the market is showing signs of consistent demand. Likewise, the median apartment price stands at $300,000, following a more modest yet positive year-over-year trend of 2.1%. These figures indicate a balanced market that appeals to both homebuyers looking for stability and investors seeking reliable assets.
Given the impressive population growth rate of 7.1%, reaching a population of 15,000 residents, Quirpon is witnessing a demographic expansion that could further fuel housing demand. This growth may be attributed to various factors such as economic development, job opportunities, or an influx of residents seeking the lifestyle offered by this region.
Investment Opportunities and Potential
The current trends provide a promising landscape for investment opportunities in Quirpon’s real estate market. The steady increase in median house and apartment prices indicates that investments made today have the potential for capital appreciation in the future. Investors can capitalize on both rental markets and long-term equity growth given the sustained demand.
The demographic expansion suggests a growing need for residential properties which might lead to favorable rental yields for investors. Additionally, new infrastructure developments or community projects triggered by population growth could add to the attractiveness of the locale, potentially increasing property values over time.
Future Market Outlook
The outlook for the real estate market in Quirpon appears optimistic. The consistent upward trend in property values combined with significant population growth positions the market for continued expansion. Assuming these trends persist, investors can expect ongoing appreciation in property values.
Diligent monitoring of economic indicators and community developments will be crucial as they could either bolster confidence in sustained growth or signal a need for caution should adverse conditions arise. However, with current data at hand, Quirpon’s real estate market holds promise for both homeowners seeking to build equity and investors aiming for capital gains.
