Topsail, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 3.2% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Topsail, Newfoundland and Labrador is experiencing a period of steady growth. The median house price in the region stands at $495,000, reflecting a year-over-year increase of 3.2%. This growth indicates a healthy demand for single-family homes and an upward trend in property values.
Similarly, the median apartment price has also seen a rise to $295,000, which aligns with a 2.5% year-over-year increase. This trend suggests that the market for smaller residential properties, such as apartments, is also on an incline albeit at a slightly slower pace compared to houses.
The population of Topsail has grown to approximately 15,500 residents, with a growth rate of 3.3%. This demographic shift likely contributes to the increased housing demand and can be a signal of continued market vitality.
Investment Opportunities and Potential
The consistent rise in property values presents promising investment opportunities in Topsail’s real estate market. Investors may find potential in leveraging the growth trends for both houses and apartments. Long-term capital appreciation prospects appear robust given the current trajectory.
The positive population growth rate further reinforces the potential for rental investments as more people are looking for residences in Topsail. The gap between house and apartment prices suggests a diverse range of investment opportunities for different scales of investors—from those interested in purchasing high-value single-family homes to those looking to invest in more affordable multi-unit residential buildings.
Future Market Outlook
Looking ahead, the real estate market in Topsail is positioned for sustained growth. The combination of steady population increases and ongoing demand for housing bodes well for future property value appreciation. While the present trends indicate favorable conditions, investors should also consider local economic factors, interest rates, and national real estate policies that could influence future market dynamics.
Cautious optimism is advisable as unforeseen macroeconomic factors can impact local markets; however, current indicators suggest that Topsail will continue to be an attractive area for both homebuyers and real estate investors alike.
