Rushoon, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.5% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Rushoon, Newfoundland and Labrador is currently experiencing a period of modest growth. The median house price in the area is $495,000, which marks a year-over-year increase of 2.8%. This suggests a stable upward trend in property values for detached homes. Similarly, the median apartment price stands at $295,000, with a slightly lower annual appreciation rate of 1.5%. These figures indicate a steady but more conservative growth for apartment properties compared to houses.
The population of Rushoon has reached 15,000 residents, with a notable population growth rate of 3.4%. This demographic expansion is likely contributing to the demand for housing in the area and could be driving the observed appreciation in home values.
2. Investment Opportunities and Potential
Given the steady increase in property values and the significant population growth, Rushoon presents itself as a promising location for real estate investment. The current trends suggest that demand for housing is likely to remain strong, particularly as more people are attracted to the area by its growing economy or natural beauty.
Investors might consider capitalizing on the rising house prices by investing in single-family homes, which have shown higher appreciation rates compared to apartments. Additionally, with the increase in population, rental properties could offer long-term returns through stable rental income and potential asset appreciation over time.
3. Future Market Outlook
The future outlook for Rushoon’s real estate market appears optimistic due to several factors. The ongoing population growth suggests sustained demand for housing, which should continue supporting property value increases unless there is a significant rise in new construction that outpaces demand.
If current economic conditions remain favorable and the region continues to attract new residents at a similar or greater rate, it is reasonable to expect that both house and apartment prices may continue their upward trajectory. However, investors should remain attentive to local economic developments and potential changes in housing policies that could affect market dynamics.
In summary, Rushoon’s real estate market offers solid opportunities for investors looking for stable growth in an active community. As always, it’s recommended that prospective buyers or investors conduct thorough due diligence and consult with local real estate professionals before making any investment decisions.
