Whitbourne, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $480,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.9% |
| Stock on market | 0.6% |
Apartment
| Median price | $290,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $480,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $400,000 |
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) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Whitbourne, Newfoundland and Labrador, is currently experiencing a moderate pace of growth. The median house price in the region stands at $480,000, reflecting a year-over-year increase of 2.9%. This uptrend suggests a steady demand for housing in the area. The median apartment price is somewhat lower at $290,000 but also shows a positive growth trend with a 2% rise over the same period.
Investment Opportunities and Potential
Investors looking to capitalize on the Whitbourne real estate market may find significant opportunities given the current trends. The consistent price appreciation for both houses and apartments indicates a healthy market that could offer stable capital gains over time. Additionally, with a population growth rate of 3.4%, there is potential for increased rental demand, making investments in rental properties particularly intriguing.
Future Market Outlook
The future outlook for Whitbourne’s real estate market appears promising. The combination of steady price increases and significant population growth positions the market for continued expansion. Assuming that these trends persist, investors and homeowners alike can anticipate sustained property value appreciation. However, as with any investment, it is crucial to monitor economic conditions, interest rates, and local developments that could affect market dynamics.
