Raleigh, 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 Raleigh, Newfoundland and Labrador, is currently experiencing stable growth. The median house price stands at $500,000, which reflects a year-over-year increase of 3.5%. This consistent rise in home values suggests a healthy demand for housing in the area. Similarly, apartments in Raleigh are also seeing a positive trend with the median price at $300,000, marking a 2.1% increase from the previous year. The population growth rate of 7.1% serves as an indicator of the region’s attractiveness and could be contributing to the steady real estate demand.
Investment Opportunities and Potential
Raleigh’s growing population, which now stands at approximately 15,000 residents, presents significant investment opportunities for both residential and rental markets. With house prices showing consistent appreciation, investors may find long-term capital gains prospects here. Moreover, the lesser but stable growth rate in apartment prices indicates a potential for rental investments to cater to those looking for more affordable housing options or temporary residence. Given the town’s population influx and economic stability, real estate investments here could be considered relatively low risk with moderate return potential.
Future Market Outlook
The prognosis for Raleigh’s real estate market remains optimistic given current trends and demographic indicators. Assuming that the current population growth rate maintains its trajectory, housing demand is likely to remain robust. This could lead to sustained or possibly even increased rates of property value appreciation in the future. However, it is crucial for investors to keep an eye on any economic changes or policy developments that could influence these dynamics. For now, Raleigh’s market appears set to continue its upward trend, offering promising opportunities for both homeownership and investment.
