Twillingate, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.8% |
| Stock on market | 0.9% |
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 | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.4 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Twillingate, Newfoundland and Labrador, has been experiencing steady growth. With a median house price of $485,000 reflecting a year-over-year increase of 3.8%, the residential sector shows healthy appreciation. Similarly, the median apartment price stands at $295,000, with a slower yet positive trend of 1.9% over the past year. These statistics suggest a stable market that is gradually becoming more valuable.
The population in Twillingate has also seen an uptick, growing by 3.4% to reach 15,000 residents. This demographic expansion can indicate increased housing demand and contribute to the upward pressure on property prices. Low interest rates in recent times have also been a contributing factor to accessible mortgage financing, further stimulating the market.
Investment Opportunities and Potential
Investors looking at Twillingate will find potential in both the residential housing and apartment sectors. The steady rise in property values suggests that purchasing real estate here could be a solid long-term investment. Given the population growth rate, demand for rental properties may also increase, offering opportunities for those interested in generating rental income.
Moreover, with house prices appreciating at a slightly higher rate than apartments, investors might prioritize single-family homes for capital gains. However, apartments could appeal to those seeking lower entry price points and possibly higher rental yields relative to property value.
Future Market Outlook
The future real estate market outlook for Twillingate appears promising. If current trends continue—with moderate price increases and consistent population growth—investors and homeowners can expect a stable market environment. These factors are likely to maintain or even increase demand for housing in the area.
Additionally, as remote work becomes more prevalent post-pandemic, smaller towns like Twillingate could attract new residents looking for affordable housing options outside urban centers. This shift may further boost local real estate markets as newcomers seek both ownership and rental options.
In conclusion, based on current data and observable trends, Twillingate’s real estate market presents an appealing landscape for both buyers looking to secure personal residences and investors aiming to capitalize on potential growth opportunities.
