Whitbourne, 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 | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
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 in Whitbourne, Newfoundland and Labrador
In Whitbourne, the real estate market is currently experiencing steady growth. The median house price stands at $500,000, which indicates a year-over-year increase of 3.5%. This growth trend suggests that the demand for houses in the region is on the rise. Similarly, the apartment sector is also witnessing an upward trajectory with a year-over-year increase of 2.1%, bringing the median apartment price to $300,000.
Whitbourne’s population has grown by 7.1% recently, which can be attributed to factors such as its relatively affordable housing market compared to larger urban centers, and possibly an influx of residents seeking lifestyle changes post-pandemic or responding to new remote work opportunities. This population growth correlates with increased demand for housing, both in ownership and rental segments.
Investment Opportunities and Potential in Whitbourne
With a consistent rise in property values and a robust population growth rate of 7.1%, Whitbourne presents attractive opportunities for real estate investors. The steady appreciation in house prices at 3.5% year-over-year suggests that investments in residential properties are likely to yield positive returns over time.
The apartment sector, while growing at a slightly slower pace of 2.1% year-over-year, still offers potential for those looking to invest in rental properties. Given the population growth and demand for more affordable housing solutions, investing in apartments could cater to professionals moving into the area, young families, or those downsizing.
Future Market Outlook for Whitbourne’s Real Estate
The future outlook for Whitbourne’s real estate market appears optimistic. As the population continues to expand and more people are drawn to smaller communities like Whitbourne for their affordability and lifestyle benefits, we can expect sustained demand for housing. If current trends continue, both the housing and apartment markets should see ongoing increases in value.
However, it is important for potential investors to monitor local economic factors and development plans that could impact the market dynamics. The responsiveness of new construction to meet demand will also play a critical role in maintaining balance in the market and ensuring that growth remains sustainable over the long term.
In conclusion, Whitbourne presents a compelling case for real estate investment based on current trends and future projections. Investors should keep an eye on local developments while considering long-term strategies that align with ongoing population growth and housing demand patterns.
