Swansea, 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 | 1.0% |
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 | $420,000 |
Demographics
| Current Population (2025) | 15,300 |
| Previous Population (2020) | 15,000 |
| Population Change | 2.0% |
| 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 Swansea, Newfoundland and Labrador is currently experiencing stable growth. With a median house price of $485,000, the market has seen a 4% year-over-year increase. This consistent upward trend suggests a healthy demand for single-family homes. In contrast, the apartment sector, with a median price of $295,000, has observed a slightly more modest growth rate of 2.5% year-over-year. The population of Swansea stands at 15,300, which has grown by 2% recently, indicating an influx of new residents and potential homebuyers that could be contributing to the steady market demand.
Investment Opportunities and Potential
The sustained growth in house prices combined with the steady population increase points to robust investment opportunities in Swansea’s real estate market. Investors could potentially reap benefits from both the rental and resale markets given the area’s economic stability and attractiveness to new residents. The single-family home segment, in particular, may offer higher long-term capital gains due to its stronger annual price appreciation. Apartments present a relatively more accessible entry point for investors and may cater well to smaller households or those seeking rental accommodations.
Future Market Outlook
Looking ahead, the future market outlook for Swansea appears optimistic. Assuming current trends persist—moderate population growth alongside consistent increases in property values—the real estate market is poised for continued growth. The 4% increase in median house prices suggests that there is ongoing confidence in the stability and potential of the local housing market. Similarly, the gradual rise in apartment prices reflects a growing interest in more affordable housing options or investment properties. As long as economic conditions remain favorable and the area continues to attract new residents, Swansea’s real estate market should maintain its positive trajectory.
