Tilton, 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 Tilton, Newfoundland and Labrador, is currently experiencing steady growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This suggests a healthy market where property values are appreciating at a moderate pace. Similarly, the median apartment price is $300,000, which has seen a slightly lower growth rate of 2.1% year-over-year.
The population of Tilton is approximately 15,000 residents, and it has been growing at a rate of 7.1%. This population growth is likely contributing to the demand for housing, supporting the observed trends in property value increases. The combination of rising home prices and population suggests that the market is competitive but accessible for newcomers looking to invest or settle in the area.
Investment Opportunities and Potential
For investors considering Tilton’s real estate market, there are promising opportunities for both short-term gains and long-term appreciation. The steady increase in median house and apartment prices indicates a strong potential for capital gains on residential properties. Moreover, the robust population growth signals a rising demand for housing which could benefit landlords and developers.
Given the current trends, purchasing residential properties for rental purposes could yield attractive returns as the community continues to expand. With more people moving to Tilton, there may also be opportunities to invest in new construction projects to meet the growing housing needs of the populace.
Future Market Outlook
The future outlook for Tilton’s real estate market appears positive based on current data. Continued population growth will likely persist as a key driver for housing demand. Assuming economic conditions remain stable or improve, we can anticipate ongoing upward pressure on property prices.
The current trends suggest that both house and apartment values will keep appreciating, although it’s essential to monitor economic factors that could affect Newfoundland and Labrador’s broader market dynamics such as employment rates, interest rates, and regional development plans.
In conclusion, Tilton’s real estate market presents an attractive landscape for investors and homebuyers alike with its steady growth patterns and promising demographic trends. Stakeholders should remain vigilant about monitoring economic indicators that could influence future market conditions.
