Sandringham, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $480,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $480,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Sandringham, Newfoundland and Labrador, is currently experiencing steady growth. The median house price stands at $480,000, which marks a 4% increase year-over-year. This suggests a healthy demand for housing in the area, supported by positive economic factors or a potentially low supply of available homes.
The apartment sector is also witnessing growth but at a slightly more modest pace, with the median apartment price reaching $295,000 and exhibiting a 2.5% rise year-over-year. The difference in growth rates between houses and apartments may indicate a stronger preference or demand for single-family homes in Sandringham.
The population of Sandringham has grown to 15,500, with an impressive growth rate of 3.3%, which is above average compared to other regions. This increase in residents can further drive housing demand and contribute to the upward pressure on prices.
Investment Opportunities and Potential
Given the steady appreciation in property values, Sandringham presents itself as an attractive location for real estate investment. The consistent growth in median house prices points towards a stable market where investors could potentially benefit from capital gains over time.
The ongoing population growth implies that rental properties could also be a lucrative investment, as new residents may initially seek rental accommodations. Investors should consider both short-term rental strategies, given the area’s potential appeal to tourists or temporary workers, and long-term rentals aimed at permanent residents.
With apartments appreciating at a slightly slower rate than houses, there may be opportunities for investors to enter the market at a lower price point while still participating in the market’s overall growth trend.
Future Market Outlook
The future outlook for Sandringham’s real estate market appears optimistic. If current trends continue, such as population growth and housing demand outpacing supply, it is likely that property prices will continue to rise.
However, potential investors should also consider macroeconomic factors that could impact the market, such as interest rate changes or broader economic shifts. These factors could moderate growth rates or even reverse current trends if they result in decreased affordability or lower housing demand.
In conclusion, while present indicators are promising for both homeowners and investors alike, it is important to remain vigilant about changes in economic conditions that could impact the Sandringham real estate market.
