Springdale, 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) | 6.0 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Springdale, Newfoundland and Labrador, is experiencing a stable growth pattern. The median house price currently stands at $500,000, which reflects a year-over-year increase of 3.5%. This increment is indicative of a healthy demand for housing within the area. Similarly, the median apartment price has risen to $300,000, showing a slower yet consistent year-over-year growth of 2.1%.
The town’s population has grown to 15,000 residents, marking a significant growth rate of 7.1%. This demographic uptrend suggests an increasing demand for housing that is likely contributing to the positive price trends observed in the local real estate market.
Investment Opportunities and Potential
With property values appreciating steadily, Springdale presents several promising investment opportunities. The current trajectory indicates that both residential homes and apartments are viable investment options for those looking to capitalize on the market’s positive momentum. The stronger growth rate in house prices may attract investors interested in single-family homes or larger residential properties.
The ongoing population increase also hints at a sustained demand for rental properties. Investors could potentially yield attractive returns by investing in apartments or developing multi-family units catered to new residents seeking rentals.
Future Market Outlook
The future outlook for Springdale’s real estate market remains optimistic. Given the robust population growth rate and consistent upward trend in property values, it is reasonable to anticipate continued market expansion. However, it is essential for investors and homebuyers to monitor local economic factors and any potential regulatory changes that could affect market dynamics.
If the current trends persist, the market might experience further tightening, leading to higher property values over time. This could present an opportune moment for both first-time homebuyers seeking long-term value appreciation and seasoned investors looking to expand their portfolios in a growing market.
