Sunnyside, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $480,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.9% |
Apartment
| Median price | $290,000 |
| 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 | $480,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $400,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,100 |
| 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 Sunnyside, Newfoundland and Labrador, is currently experiencing a period of modest but steady growth. The median house price in the area stands at $480,000, which represents a year-over-year increase of 3.2%. This incremental rise indicates a stable market that is attracting homebuyers looking for long-term value rather than speculative growth. Similarly, the median apartment price has seen a 2.5% increase from the previous year, with a current value of $290,000.
Sunnyside’s population has reached approximately 15,500 residents, with a healthy population growth rate of 3.3%. This demographic trend is contributing to sustained demand in the housing market as new residents seek accommodation, both through purchases and rentals. The consistent demand is likely to maintain upward pressure on home values and rental rates.
Investment Opportunities and Potential
Given the steady growth in both property values and population size, Sunnyside presents attractive investment opportunities for both residential and commercial real estate investors. The modest increase in house prices indicates room for appreciation, which may benefit long-term investors looking to capitalize on consistent market performance.
For investors seeking rental income, the growing population suggests a continuing need for rental units. With apartment prices also on the rise but still relatively affordable at $290,000 median price point, multi-unit residential buildings could be an appealing option for those looking to enter the rental market.
Commercial real estate investors might also find potential in Sunnyside due to the increasing population that could support more retail spaces, offices, and service-oriented businesses catering to the community’s needs.
Future Market Outlook
The outlook for the Sunnyside real estate market appears positive. Assuming the continuation of current trends—such as steady population growth and controlled property value increases—the market should remain robust. Investors can likely expect ongoing appreciation of property values at a sustainable rate that aligns with or slightly outpaces inflation.
However, it is essential for investors to keep an eye on economic factors that might influence migration patterns and employment rates in Sunnyside as these could alter demand dynamics within the housing market. As long as local economic conditions remain favorable and support job creation that attracts new residents while retaining current ones, the Sunnyside real estate market should continue its upward trajectory.
