Rushoon, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $390,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Rushoon, Newfoundland and Labrador has demonstrated steady growth over the past year. With a median house price sitting at $485,000, the market has experienced a year-over-year appreciation of 2.8%. Similarly, the market for apartments shows a positive trajectory, with the median apartment price reaching $295,000, marking an increase of 1.9% from the previous year.
This growth can be attributed to various factors, including Rushoon’s stable population growth of 2.7%, which reflects an increasing demand for housing in the region. The current population is estimated at 15,200, suggesting a healthy community size that can support real estate investment and development.
Investment Opportunities and Potential
Rushoon’s real estate market presents promising opportunities for investors. The consistent growth in property values indicates a market with potential for capital gains over time. Investment in single-family homes is particularly attractive given their higher appreciation rate compared to apartments. However, with apartments also showing positive price trends, multi-unit residential properties could be a strategic choice for those looking to tap into the rental market.
The ongoing population growth suggests a sustained demand for housing, which may lead to tighter inventory levels and potentially higher rental yields for investors. This environment makes Rushoon an appealing location for both long-term property investment and development projects aimed at meeting the housing needs of its residents.
Future Market Outlook
The future outlook for the Rushoon real estate market remains optimistic based on current trends and demographic data. Continued population growth should drive further demand for housing, potentially pushing property prices upward. Assuming economic conditions remain stable, we can expect to see ongoing moderate appreciation in both house and apartment prices.
Moreover, as infrastructure develops and more people seek out Rushoon for its lifestyle offerings, it could bolster the local economy and enhance property values. Investors looking to capitalize on early-market opportunities may find this period advantageous before prices accelerate further.
In conclusion, Rushoon’s real estate market displays solid fundamentals with steady price increases and population growth—elements that bode well for future investment prospects.
