Wesleyville, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.1% |
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 | $440,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Wesleyville, Newfoundland and Labrador, the real estate market has exhibited a stable growth pattern. The median house price currently stands at $485,000, which marks a year-over-year increase of 3.2%. This consistent appreciation suggests a healthy demand for single-family homes in the region. Likewise, the apartment market is also showing positive movement with a median price of $295,000, climbing at a slightly lower rate of 2% year-over-year.
The population of Wesleyville is 15,200 and has seen a growth of 2.7%. This demographic expansion is likely contributing to the sustained demand for housing in the area. Additionally, given the percentage increases in property values across both housing types, it can be inferred that the market is experiencing balanced growth without signs of overheating.
Investment Opportunities and Potential
In terms of investment opportunities, Wesleyville presents potential for both residential investors and those looking at income properties such as apartments. Given the steady house price trend and population growth, investing in single-family homes could provide sustained capital appreciation over time. Moreover, with an increasing population that may include renters, apartments could yield favorable returns on investment through rental income.
Investors should also consider the broader economic factors impacting Newfoundland and Labrador, such as employment rates and regional development projects, which could further influence real estate values. The moderate price increase in apartments indicates a growing but not yet saturated rental market, potentially offering an entry point for investors seeking long-term rental income.
Future Market Outlook
The future of Wesleyville’s real estate market looks promising given current trends and demographic indicators. Continued population growth is expected to maintain or possibly increase demand for housing. Assuming no major economic disruptions occur locally or nationally, the real estate market should persist on its current trajectory.
However, prospective investors and homebuyers should monitor factors such as interest rates changes by Bank of Canada which could impact borrowing costs and affordability. Also important is keeping an eye on national policies that might affect provincial economies like Newfoundland and Labrador’s.
Overall, if current conditions hold steady or improve, Wesleyville’s real estate market may continue to offer solid opportunities for investment and residence alike in the coming years.
