Roddickton, 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 Roddickton, Newfoundland and Labrador has been experiencing consistent growth. The median house price in the region is currently valued at $500,000, reflecting a year-over-year increase of 3.5%. This steady rise indicates a healthy demand for residential properties and a robust housing sector. Similarly, the apartment market is also witnessing growth with the median apartment price standing at $300,000, which marks a 2.1% year-over-year increase.
These trends suggest that Roddickton’s real estate market is on an upward trajectory, supported by factors such as economic stability and an expanding population, which has grown by 7.1%. The demand for housing is likely to continue due to this positive population growth rate.
Investment Opportunities and Potential
Investment opportunities within Roddickton are promising given the current market dynamics. Investors can leverage the steady appreciation in property values, as evidenced by the consistent growth in house and apartment prices. With the median house price at half a million dollars and rising modestly, there is potential for capital gains over the long term.
Apartments represent a more accessible investment option with lower entry costs and have shown resilience with a 2.1% growth rate. This sector may be particularly attractive for investors looking to cater to smaller households or those seeking rental income opportunities amidst a growing population.
Future Market Outlook
The future outlook of Roddickton’s real estate market appears optimistic based on current indicators. Given the steady climb in property values and the significant population growth, it is reasonable to expect that these trends will persist in the near term. As more people move into the area, demand for housing will likely sustain or even increase, potentially pushing property prices higher.
However, investors and stakeholders should monitor local economic developments and broader national trends that could impact interest rates and mortgage accessibility. Any changes in these areas could alter market dynamics either positively or negatively.
In conclusion, Roddickton’s real estate market presents as stable with continuous growth potential. Stakeholders should remain vigilant to changes within the economy while capitalizing on current trends that favor both residential property ownership and investment.
