Roddickton, 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 | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $380,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| 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 is currently experiencing steady growth. The median house price stands at $495,000, reflecting a year-over-year increase of 3.3%. This incremental rise suggests a stable market with consistent demand. Meanwhile, the median apartment price is $295,000, which has risen by 2% over the past year. While apartments are showing a more modest increase in value compared to houses, they remain an attractive option for single individuals or smaller households.
Roddickton’s growing population, which has seen a 3.4% increase, is likely contributing to the sustained demand in the housing market. With a current population of 15,000 residents, the community is attracting newcomers who are either seeking employment opportunities or the tranquil lifestyle that this region offers.
Investment Opportunities and Potential
The positive trends in Roddickton’s real estate market present appealing investment opportunities. The steady growth in housing prices indicates a robust market where investment properties are likely to appreciate. Furthermore, the consistent population growth underpins the potential for rental properties to yield stable income streams as demand for housing increases.
Investors might consider leveraging the lower apartment prices to enter the market at a more accessible point. With the ongoing population increase, rental demand is likely to grow, which could lead to higher rental yields and potential capital gains on resale in the future.
Future Market Outlook
The future outlook for Roddickton’s real estate market appears promising. Assuming that current economic conditions persist and population growth continues at its recent pace, it can be projected that both housing demand and property values may maintain their upward trajectory.
As more people move to Roddickton, we may see an uptick in new construction projects and developments to accommodate this influx, thereby enriching investment prospects further. However, investors should monitor local economic developments closely as any shifts could impact these projections.
In summary, Roddickton offers a stable and growing real estate market with solid opportunities for investment and favorable long-term prospects. As always, potential investors should conduct thorough due diligence and consider consulting with local real estate experts before making any financial commitments.
