Quirpon, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $498,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $498,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,300 |
| Population Change | 4.9% |
| 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 a growth phase. The median house price stands at $498,000, which indicates a year-over-year increase of 4%. This trend suggests that the market is steadily appreciating, making it attractive for homeowners looking for long-term value in their investments. Similarly, the median apartment price is $295,000, with a more modest year-over-year growth of 1.9%. Such growth rates are indicative of a stable market that is less volatile than other markets experiencing rapid inflation or depreciation.
Investment Opportunities and Potential
Given the steady increase in property values, Quirpon presents a compelling opportunity for real estate investors. The consistent rise in prices reflects healthy demand, which is further corroborated by the town’s population growth of 4.9%. The significant population increase implies an expanding rental market, which could benefit investors focused on income-generating properties such as apartments or multi-family homes.
Another factor contributing to investment potential is the relatively higher price appreciation rate seen in houses compared to apartments. This disparity may encourage investors to focus on single-family homes that could offer greater capital gains in the long term. Moreover, with median prices still under half a million dollars for houses and significantly lower for apartments, entry into this market remains accessible for a range of investors.
Future Market Outlook
The future outlook for Quirpon’s real estate market appears promising based on current indicators. Population growth is robust at almost 5%, suggesting a continuous influx of residents and sustained demand for housing. If these demographic trends persist, they will likely exert upward pressure on both rental and purchase prices due to increased competition for available properties.
The steady appreciation of house and apartment prices also points towards a maturing market that maintains investor confidence. Provided that economic conditions remain favorable and no major disruptions occur, Quirpon’s real estate market should continue on its upward trajectory. Investors and potential homebuyers may find this stability reassuring as they make long-term property decisions in the region.
