Sheppardville, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Sheppardville, Newfoundland and Labrador, is currently experiencing a moderate growth phase. With a median house price of $500,000, the local housing market has seen a year-over-year increase of 3.5%. This steady growth trend reflects a healthy demand for residential properties, likely driven by positive economic factors and an increasing population, which currently stands at 15,000 residents.
The median apartment price is somewhat lower than that of houses at $300,000. Apartments are seeing a slightly slower growth rate with a year-over-year trend of 2.1%. This difference in growth rates between houses and apartments may indicate a stronger preference for single-family homes or could be due to the limited availability of multifamily units in the area.
Investment Opportunities and Potential
Considering Sheppardville’s solid population growth of 7.1%, investment opportunities appear promising, particularly in the residential sector. The consistent appreciation in property values suggests that investing in real estate could yield favorable returns over time. The higher growth rate for houses implies that they may offer better capital gains potential compared to apartments. However, apartments might be attractive for investors looking for rental income opportunities, especially if there is demand for rental housing among those not ready to enter the homeownership market.
New developments catering to the expanding population could also represent an excellent opportunity for developers and investors alike. As the population continues to grow, there will likely be an increasing demand for both single-family homes and multi-residential units.
Future Market Outlook
The future market outlook for Sheppardville remains optimistic. The consistent growth in property values coupled with robust population increases suggests that the demand for housing will continue to rise. If economic conditions remain favorable and the area continues to attract new residents due to employment opportunities or lifestyle choices, Sheppardville’s real estate market should maintain its upward trajectory.
Investors and homebuyers should be mindful of any changes in local economic drivers or policy adjustments that could impact demand or affordability. A diversified approach towards different types of properties might also help mitigate risks while capitalizing on various segments within Sheppardville’s growing real estate market.
