Trepassey, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $480,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $480,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,700 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 6.0 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Trepassey, Newfoundland and Labrador, is experiencing a steady increase in property values. With a median house price of $480,000, the market has seen a modest year-over-year increase of 2.8%. This growth rate suggests a stable environment for homeowners. On the other hand, the median apartment price stands at $295,000, marking a slightly lower growth trend of 1.5% year-over-year. These figures reflect a consistent demand for housing in the area.
Investment Opportunities and Potential
Investors looking at Trepassey’s real estate market will find potential due to its steady growth and reasonable entry points, especially in the apartment sector. The divergent trends between house and apartment price growth may indicate a higher demand for single-family homes but also show room for growth in the apartment market. The population of Trepassey has been growing at an annual rate of 2.04%, suggesting an increasing need for housing which could drive future demand.
Future Market Outlook
The future outlook for Trepassey’s real estate market appears promising, given the current trends and population growth rates. The consistent increase in property values points to a healthy market that could continue to provide returns for investors. However, as with any real estate investment, it is crucial to monitor local economic factors, demographic shifts, and developments within Newfoundland and Labrador that may influence market conditions.
