Shearstown, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $335,000 |
| 3 bedrooms | $420,000 |
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
In Shearstown, Newfoundland and Labrador, the real estate market is currently experiencing a period of moderate growth. The median house price stands at $485,000, which reflects a 4% year-over-year increase. This steady rise in housing prices suggests a stable market that continues to attract buyers. Similarly, the median apartment price is reported to be $295,000, with a somewhat lower yet positive growth trend of 2.5% year-over-year.
The population of Shearstown has been growing at a healthy rate of 2.7%, indicating an expanding community that may continue to drive demand in the housing market. This demographic trend is an essential factor contributing to the sustained demand for both ownership and rental properties in the region.
Investment Opportunities and Potential
Considering the current growth trends and demographic data, investment opportunities in Shearstown seem promising for both short-term gains and long-term stability. The increasing median house prices point towards a market that has not yet reached its peak, offering potential for capital appreciation. Additionally, the steady growth in apartment prices suggests that multi-unit residential buildings could be a viable option for investors looking to enter the rental market or expand their portfolio.
The population increase serves as an indicator of potential rental demand, providing opportunities for investors interested in purchasing properties to cater to new residents seeking housing. Given the current trends, investors can anticipate continued interest in both buying and renting, which could lead to solid returns on investment over time.
Future Market Outlook
The real estate market in Shearstown appears poised for sustained growth over the coming years. As the local economy adapts and evolves, alongside a growing population that fuels housing demand, it is reasonable to expect that property values will continue their upward trajectory. The consistent year-over-year increases in median house and apartment prices signal confidence in the market’s future prospects.
The key drivers of this positive outlook include ongoing population growth and stable economic conditions within Newfoundland and Labrador. Should these factors remain favorable, Shearstown’s real estate market could see a continuation of the current trends with potentially higher rates of appreciation as supply strives to meet increasing demand.
In conclusion, careful monitoring of economic indicators and demographic shifts will be crucial for those looking to invest or currently invested in Shearstown’s real estate market. Vigilance will ensure they are well-positioned to capitalize on emerging opportunities and navigate any potential challenges that arise.
