Tilting, Newfoundland and Labrador 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 Tilting, Newfoundland and Labrador, is currently experiencing a steady increase in property values. The median house price stands at $500,000, with a year-over-year growth of 3.5%. This trend indicates a healthily appreciating market which could be reflective of increasing demand or a response to limited inventory. The apartment sector is also on an upswing but at a more modest pace, with the median apartment price at $300,000 and an annual appreciation rate of 2.1%.
The population growth of 7.1% suggests that Tilting is becoming an increasingly popular place to live for its current population size of 15,000. This demographic trend can contribute to the demand for housing, potentially affecting both the rental and buyer’s markets positively.
Investment Opportunities and Potential
Investors should note the stable growth in the housing market as a sign of positive investment potential in Tilting. The consistent appreciation in property values indicates that investments made in residential real estate are likely to benefit from capital gains over time. Particularly, single-family homes seem to be a lucrative investment based on the higher growth rate compared to apartments.
A growing population also suggests that there could be opportunities for developing new housing projects or renovating existing properties to meet the increasing demand. Rental properties might also be an attractive option for investors due to the influx of residents looking for temporary accommodation before purchasing their own homes.
Future Market Outlook
The future outlook for Tilting’s real estate market appears promising. Given the current trends and population growth, it is reasonable to expect that property values will continue to rise at a sustainable rate. This forecast is bolstered by the ongoing increase in resident numbers which tends to drive housing demand.
However, investors and potential homeowners should keep an eye on economic factors such as employment rates, interest rates, and regional development plans that might impact these predictions. A diversified economy and continued investment into local infrastructure could further enhance the attractiveness of Tilting’s real estate market.
In conclusion, Tilting offers an appealing market for both potential homeowners and investors alike. With careful consideration of local dynamics and broader economic indicators, stakeholders can make informed decisions that capitalize on Tilting’s growing real estate opportunities.
