Traytown, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| 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 | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Traytown, Newfoundland and Labrador currently presents a stable growth environment. With a median house price of $485,000 and an annual appreciation rate of 3%, the housing sector is experiencing steady growth. Similarly, the median apartment price stands at $295,000, with a slightly lower year-over-year increase of 2.5%. These figures suggest a consistent upswing in property values across different types of residential real estate.
The population of Traytown is currently around 15,500 residents, with a notable growth rate of 3.3%. This demographic expansion is likely contributing to the demand for housing in the area, underpinning the observed price increases and offering potential for continued market buoyancy.
Investment Opportunities and Potential
The positive trajectory in property values coupled with robust population growth indicates substantial investment potential within Traytown’s real estate market. The consistent rise in both house and apartment prices suggests that investments made in residential properties are likely to benefit from capital appreciation over time.
For investors looking at the long-term horizon, Traytown’s expanding population base could lead to an increased demand for rental properties. This presents an opportunity for acquiring rental units that could yield attractive returns through income generation as well as asset value growth. Moreover, the current trends depict a favorable market for both flipping properties and developing new housing projects aimed at meeting the growing housing requirements of the local populace.
Future Market Outlook
The outlook for Traytown’s real estate market remains optimistic given the current data points. Assuming that the population continues to grow at or above the current pace of 3.3%, demand for housing is expected to sustain or possibly increase. Such demographic dynamics, when coupled with modest yet consistent property value appreciation rates of 3% for houses and 2.5% for apartments year-over-year, forecast a healthy market situation moving forward.
If economic conditions remain favorable and no significant external shocks occur, investors can reasonably anticipate continued growth in property values. However, it is important to monitor local economic drivers, infrastructure developments, and government policies as these factors can also heavily influence future real estate performance in Traytown.
