Taloyoak, Nunavut 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) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Taloyoak, Nunavut is currently experiencing moderate growth. With the median house price at $500,000 and observing a year-over-year increase of 3.5%, the market shows healthy activity. The median apartment price is slightly lower at $300,000, with a more modest year-over-year growth of 2.1%. This indicates that the housing market is stable and growing at a steady pace.
The population of Taloyoak stands at approximately 15,000 residents, with an impressive growth rate of 7.1%. This demographic trend suggests a rising demand for housing in the area, which could be conducive to sustained property value appreciation over time.
Investment Opportunities and Potential
Considering the steady population growth and consistent increase in property values, Taloyoak presents compelling opportunities for investors seeking long-term capital gains. Single-family homes, given their higher median price and growth rate, are particularly promising for investors targeting the premium segment of the market.
The apartment sector also offers potential for those looking to cater to new residents or those seeking more affordable housing options. While the growth in apartment prices is slower compared to houses, it provides a more accessible entry point into the real estate market with a solid growth trajectory.
In addition to residential properties, the expanding population could also create opportunities for investment in commercial real estate aimed at servicing the community’s growing needs.
Future Market Outlook
With a robust population growth rate and consistent upward trends in property values, Taloyoak’s future market outlook appears optimistic. The continued demand for housing driven by population expansion is likely to support further property price increases unless there is a significant change in economic conditions or housing supply dynamics.
Investors and stakeholders should monitor factors such as employment rates, local economic development initiatives, and infrastructure improvements, as these will play critical roles in shaping the future of Taloyoak’s real estate market. Careful analysis of these elements combined with current trends suggests that Taloyoak’s real estate market has strong fundamentals for sustained growth over the coming years.
