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, has recently demonstrated a healthy growth pattern. With a median house price of $500,000, the market has experienced a steady year-over-year increase of 3.5%. This suggests a robust demand for housing in the area, likely driven by local economic factors and demographic trends. Similarly, the market for apartments is showing positive momentum with a median price of $300,000 and a growth rate of 2.1% year-over-year. These figures indicate that both segments of the housing market are progressing at a sustainable pace.
Investment Opportunities and Potential
Investment in Raleigh’s real estate appears promising due to several factors. The consistent upward trajectory in property values signals strong capital appreciation potential for investors. Moreover, given that Raleigh’s population has grown by 7.1%, there is likely an increasing demand for residential units which could result in favorable rental yields for income-seeking investors. The combination of population growth and property value increases may also attract developers looking to capitalize on the need for new housing to accommodate the burgeoning population.
Future Market Outlook
Looking ahead, Raleigh’s real estate market shows signs of continued growth. The significant population increase to 15,000 residents, coupled with ongoing trends in property value appreciation, suggests that housing demand will persist. Assuming this trend aligns with broader economic stability in Newfoundland and Labrador, investors can reasonably anticipate sustained market health. However, it is important to monitor local economic policies, infrastructure developments, and employment rates as these factors could influence future market dynamics.
