Wesleyville, 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 | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.5% |
| 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 | $330,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| 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 Wesleyville, Newfoundland and Labrador is currently characterized by moderate growth. The median house price in the area stands at $485,000, with a year-over-year increase of 3%. This steady upward trend is indicative of a healthy market that is growing at a sustainable pace. Similarly, the median apartment price is $295,000, which has risen by 1.5% over the past year. This slower growth rate in apartment prices compared to houses suggests that single-family homes are in higher demand.
The population of Wesleyville is approximately 15,000 people, with a notable growth rate of 3.4%. This demographic expansion can be attributed to both natural growth and inward migration, which may be driven by employment opportunities or the appeal of the region’s lifestyle.
Investment Opportunities and Potential
Growing population figures coupled with steady price appreciation point to robust investment opportunities in Wesleyville. The consistent rise in housing prices reflects a stable demand that investors can leverage, particularly in the single-family home market where growth is more pronounced.
The rental market also presents potential due to the population increase. Investors may find opportunities in purchasing apartments or houses to rent out, as new residents may look for rental accommodation before committing to homeownership. Additionally, given the slower growth rate in apartment prices, entry-level investment could be more accessible for those looking to invest in multi-unit residential properties.
Future Market Outlook
The future real estate market outlook for Wesleyville appears positive. The combination of steady housing price increases and ongoing population growth suggests that demand for housing will continue to rise. If the current economic conditions persist, investors and homeowners can expect continued appreciation in property values.
However, it’s important for stakeholders to monitor local economic developments and broader regional trends that can impact real estate markets. Factors such as employment rates, the overall economic health of Newfoundland and Labrador, as well as any changes in provincial or federal housing policies should be taken into account when considering long-term investments.
In summary, Wesleyville’s real estate market shows signs of strength and resilience, with favorable conditions for both investors and potential homeowners looking for stable growth opportunities.
