Winterton, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $385,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $450,000 |
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) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Winterton, Newfoundland and Labrador
The real estate market in Winterton, Newfoundland and Labrador, is currently experiencing steady growth. The median house price stands at $495,000, marking a solid 4% increase year-over-year. This suggests a healthy demand for housing in the area, coupled with a supply that is possibly limited enough to drive prices upward at a moderate pace.
Apartments are also seeing an appreciation in value but at a slightly slower rate, with the median price at $295,000 and an annual growth trend of 2.5%. This difference in growth rate may illustrate a greater demand for single-family homes in Winterton compared to apartments or could indicate a more significant inventory of apartments keeping prices more stable.
The population of Winterton has grown by 3.4%, which is relatively robust and can be contributing to the increase in housing demand. A growing population often leads to a rise in demand for housing, retail spaces, and services, which can have a positive impact on property values over time.
Investment Opportunities and Potential in Winterton
With the median house price at $495,000 and showing consistent growth, investment opportunities in single-family homes appear promising. The 4% appreciation rate indicates that investments have the potential for capital gains. Additionally, if the population continues to grow at 3.4%, this could signify ongoing demand for housing which may provide investors with both short-term rental income and long-term asset appreciation.
Apartments offer a different kind of opportunity with their lower median price point of $295,000 and growth rate of 2.5%. Investors looking for more affordable entry points into the real estate market or those seeking to diversify their portfolio might consider this segment attractive. Furthermore, as the younger demographic may prefer apartment living due to affordability or lifestyle choice, there could be sustained or increasing demand for such properties.
Given these factors, investors should be optimistic about both immediate rental yield potential and longer-term capital gains within the Winterton real estate market.
Future Market Outlook for Winterton
The future outlook for Winterton’s real estate market appears positive. The combination of steady population growth and year-over-year increases in property values suggest that the demand for housing will remain strong. If economic conditions within Newfoundland and Labrador continue to stabilize or improve, it is likely that these trends will persist.
However, potential investors should remain aware of broader economic factors such as employment rates, interest rates, and regional development plans which can all influence future market conditions. It will be important to monitor these elements closely as they can have significant impacts on market dynamics.
In conclusion, given current trends and local demographics, the Winterton real estate market presents several appealing prospects for investors seeking growth as well as those looking for stable investment vehicles with reasonable yields.
