Trouty, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,100 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.9% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Trouty, Newfoundland and Labrador is currently experiencing a period of moderate growth. The median house price stands at $485,000, reflecting a year-over-year increase of 2.8%. This steady growth indicates a stable market that is gradually appreciating in value. Similarly, the median apartment price has reached $295,000, with a 1.9% growth over the past year. These trends suggest a balanced market that has been able to maintain positive momentum despite broader economic conditions.
Accompanying these price trends is a significant population growth of 7.86%, which may contribute to increasing demand for housing in the region. This demographic shift could be an indicator of a vibrant local economy attracting new residents and investment opportunities.
Investment Opportunities and Potential
The consistent uptick in property values coupled with robust population growth positions Trouty as an attractive area for real estate investment. The current trend of moderate increases in home values points towards potential for long-term capital gains for investors who enter the market now. Additionally, the rise in population suggests that rental properties may be in higher demand, potentially providing investors with steady rental income streams.
Given the more accessible median apartment price point of $295,000, there is an opportunity for investors to cater to individuals and families seeking more affordable housing options. Investments in multi-unit residential buildings could capitalize on this segment of the market, particularly given the lower entry price compared to single-family homes.
Future Market Outlook
The future outlook for Trouty’s real estate market appears promising based on current data. If the population continues to grow at its current rate, demand for housing will likely correspondingly increase, which could push property prices upward. However, it’s important to note that market conditions can change due to various external factors such as economic shifts, changes in mortgage rates, and government housing policies.
Investors and homebuyers should keep an eye on these external influences while also considering the sustained growth patterns observed over recent years. Should these trends continue along with positive economic indicators within the region, Trouty’s real estate market could offer both stability and profitability for those looking to enter the housing market.
