Twillingate, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Twillingate, Newfoundland and Labrador is currently experiencing a steady growth. The median house price in the area is valued at $500,000, with an observed year-over-year price increase of 3.5%. This suggests a stable and moderately appreciating residential market. Similarly, the apartment sector shows a positive trend, with the median price standing at $300,000 and a more modest annual increase of 2.1%.
The population of Twillingate has reached 15,000 residents and is on an upward trajectory with a significant growth rate of 7.1%. This demographic development indicates a robust demand for housing that could support sustained property value appreciation.
Investment Opportunities and Potential
Given the steady appreciation rates for both houses and apartments, investment opportunities within Twillingate show potential for consistent returns. Investors looking to enter the market could benefit from focusing on long-term capital gains given the town’s stable property value growth.
The significant population increase positions Twillingate as an emerging market with potential for rental properties to accommodate incoming residents seeking housing. Investing in rental units could provide investors with ongoing cash flow while still participating in the overall asset appreciation reflected in the current trends.
Future Market Outlook
The future outlook for the Twillingate real estate market appears promising. The consistent rise in median property prices coupled with strong population growth suggests that demand will continue to drive the housing market forward.
If current trends persist, investors may experience continued appreciation in property values over the medium to long term. However, it is important to monitor external economic factors that could impact Newfoundland and Labrador’s broader market dynamics such as employment rates, interest rates, and regional economic policies.
To capitalize on this positive trend, stakeholders should consider engaging with local experts to identify specific areas within Twillingate that offer the best investment potential. Strategic investments based on thorough analysis are likely to yield the most favorable outcomes in this growing market.
