Renewscappahayden, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.3% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $615,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $345,000 |
| 3 bedrooms | $445,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Renewscappahayden, Newfoundland and Labrador, is currently experiencing steady growth. With a median house price of $495,000 and an upward year-over-year trend of 3.3%, the market is showing signs of healthy demand. Similarly, the median apartment price is set at $295,000, with a positive growth trend of 2% compared to the previous year. The local population has reached 15,200 residents and is growing at a robust rate of 4.8%, which suggests an increasing demand for housing in the area. These statistics reflect a burgeoning market where both residential properties and apartments are appreciating steadily.
Investment Opportunities and Potential
Given the current market trends, Renewscappahayden offers promising investment opportunities. The steady increase in property values indicates a strong potential for capital gains over the long term. For investors looking at rental properties, the growing population could translate into a higher demand for rental units, potentially leading to favorable rental yields. Furthermore, with house prices outpacing apartment prices in terms of growth, there may be an opportunity to invest in single-family homes which are appreciating at a faster rate.
Future Market Outlook
The future outlook for Renewscappahayden’s real estate market appears positive. The sustained population growth paired with consistent increases in property values points to ongoing demand for housing and potential for continued appreciation in property prices. Assuming that current economic conditions remain stable, investors can expect the real estate market in Renewscappahayden to remain robust with opportunities for both capital appreciation and income generation through rentals.
