Stephenville, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 1.0% |
| 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 | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| 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 Stephenville, Newfoundland and Labrador, the real estate market is currently experiencing moderate growth. The median house price stands at $485,000, with a year-over-year increase of around 4%. This steady climb indicates a healthy demand for single-family homes in the region. In contrast, the median apartment price is somewhat lower at $295,000, with a slightly more modest year-over-year growth of 2.5%. These figures reflect a growing market that is perhaps more accessible to first-time buyers and those looking for smaller investment opportunities.
The population of Stephenville has grown by 3.4%, reaching approximately 15,000 residents. This demographic shift suggests an increasing need for housing and can be a driving force behind the property value appreciation observed in recent years.
Investment Opportunities and Potential
The positive trends in population growth combined with the steady increase in property values highlight significant investment potential in the Stephenville real estate market. Investors might find particular value in targeting single-family homes due to their higher appreciation rate. With a 4% year-over-year increase in median house prices, investing in residential properties could yield substantial returns over time.
Apartments also present attractive investment opportunities, especially as rental properties. With a lower entry price point and a 2.5% increase in value per annum, apartments could cater to investors seeking more affordable options or diversification in their real estate portfolio.
Future Market Outlook
The future outlook for Stephenville’s real estate market remains optimistic. Population growth is likely to continue based on current trends, which will sustain demand for housing. While no market is without risk, the consistent upward trend in property values implies that both houses and apartments are poised to maintain their trajectory of appreciation.
As long-term investments, Stephenville’s real estate assets seem promising; however, potential investors should always consider local economic factors and conduct thorough market research before making any financial commitments. Keeping abreast of national economic indicators and regional developments will also be critical for those looking to capitalize on this burgeoning market.
