Swansea, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,100 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,600 |
| 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 steady growth. With a median house price of $495,000, the market has seen a year-over-year increase of 3%. This consistent appreciation indicates a healthy demand for residential properties. Similarly, the median apartment price stands at $295,000, which has also grown by 2.5% compared to the previous year. This growth suggests that the market for smaller living spaces such as apartments is also on the rise, possibly driven by first-time homebuyers or individuals looking for more affordable housing options.
In terms of population, Swansea boasts a total of 15,100 residents with a growth rate of 2%. This increase in population serves as a catalyst for real estate demand and potentially signals future expansion in housing needs.
Investment Opportunities and Potential
Given the steady market growth and population increase, investment opportunities within Swansea seem promising. The continuous appreciation in property values offers potential for capital gains over time for those investing in residential properties. Moreover, the consistent rise in apartment prices may be particularly attractive to investors looking to enter the rental market or seeking lower entry points into property investment.
Investors should also consider the potential impact of infrastructure developments and economic initiatives that could further stimulate the local real estate market. Diversifying investments across different types of properties (e.g., single-family homes, apartments) may help mitigate risks while capitalizing on various segments of the market.
Future Market Outlook
The future outlook for Swansea’s real estate market remains optimistic. With a stable population growth rate of 2%, demand for housing is likely to continue increasing. Assuming economic conditions remain favorable and employment opportunities within or near Swansea grow, one can expect sustained interest in both purchasing and renting properties.
However, investors and prospective buyers should monitor regional economic trends and any changes in government policies affecting homeownership costs or rental regulations. These factors could influence future market dynamics, including affordability challenges or shifts in supply and demand.
