Winterton, 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 | 0.7% |
Apartment
| Median price | $290,000 |
| 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 | $480,000 |
| 4 bedrooms | $550,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 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) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Winterton, Newfoundland and Labrador is currently experiencing steady growth. With a median house price of $480,000, the market has seen a year-over-year increase of 2.9%. This suggests a stable upward trend in property values, signaling healthy demand within the housing sector. Similarly, the apartment market has demonstrated resilience with a median price of $290,000 and a 1.5% year-over-year price increase.
The population growth rate of 3.4% is a clear indicator of the region’s expanding demographic, which can contribute to sustained demand for housing. This growth can be attributed to factors such as employment opportunities, lifestyle preferences, and immigration into Winterton.
2. Investment Opportunities and Potential
Investment opportunities within Winterton are promising due to the consistent rise in property values. The stability in house prices reflects a market that is likely to continue on a positive trajectory, making it an attractive location for long-term investment strategies.
The burgeoning population is an encouraging sign for investors looking at rental properties or developments. With an increasing number of residents seeking accommodation, both the rental and buyer markets should remain active. Investors could capitalize on this by investing in residential properties that cater to diverse segments such as families or professionals.
Moreover, the growth in apartment prices, although more modest than houses at 1.5%, indicates a potential for investment in multi-unit residential buildings that could provide more affordable living options compared to standalone houses.
3. Future Market Outlook
The future outlook for Winterton’s real estate market appears optimistic. The consistent population growth paired with rising house and apartment prices suggest that demand for property will persist. Assuming current trends continue, investors and homeowners can expect progressive capital gains over time.
However, as with any forecasted trend, potential economic fluctuations and policy changes must be taken into consideration. Factors such as interest rates, employment stability in the region, and national economic health will influence future market conditions.
In conclusion, Winterton presents itself as a burgeoning market with potential for both homeowners looking to settle in a growing community and investors seeking stable returns on real estate investments.
