Sandringham, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 0.6% |
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 | $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) | 15,300 |
| Previous Population (2020) | 14,500 |
| Population Change | 5.5% |
| 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 Sandringham, Newfoundland and Labrador, currently exhibits steady growth. With a median house price of $485,000 and an annual price appreciation trend of 3%, the market is demonstrating moderate capital gains for homeowners. Similarly, the apartment sector shows resilience with a median price of $295,000 and a growth trend of 2.5% year-over-year.
Sandringham’s population has seen a significant increase of 5.5%, suggesting a burgeoning demand for housing. This demographic expansion could be associated with new employment opportunities, lifestyle preferences for smaller communities, or other socio-economic factors attracting residents to the area.
Investment Opportunities and Potential
Investment opportunities in Sandringham are promising given the current trends. The consistent appreciation in property values indicates stable investment potential, particularly for those looking to engage in long-term real estate holdings. The growth in population underlines an increasing demand for housing, which may lead to higher occupancy rates and potentially higher rental yields for investors focusing on income-generating properties.
As the market is not experiencing overly aggressive price spikes, there is potential for investors to enter the market without the pressures of an overheated environment. This could allow for more calculated investment decisions and the ability to leverage market conditions that favor both entry-level and experienced investors.
Future Market Outlook
Looking ahead, Sandringham’s real estate market outlook appears cautiously optimistic. Assuming the continuation of current economic drivers and population trends, we can anticipate further steady growth in property values. However, as with any market forecast, it is essential to consider external factors such as interest rates, local employment rates, and provincial or national economic policies that could influence future performance.
Investors should keep an eye on infrastructure developments and any initiatives by municipal or provincial governments that aim to attract businesses or enhance quality of life in Sandringham. Such developments could serve as catalysts for additional growth and enhance the area’s attractiveness to new residents.
