Woodstock, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,800 |
| Population Change | 1.4% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Woodstock, Newfoundland and Labrador is currently experiencing a period of modest growth. With the median house price standing at $485,000, there has been a year-over-year increase of 4%. This indicates a healthy market that is growing at a steady rate, reflecting both increased demand and the value appreciation of properties in the area.
Similarly, apartments in Woodstock are also seeing a positive trend with the median apartment price at $295,000 and a year-over-year increase of 2.5%. This growth, while slightly slower than that of houses, suggests that smaller residential units are also in demand and could be appealing to different demographics such as single professionals or small families.
The current population of Woodstock is approximately 15,000 residents with a growth rate of 1.4%. This steady increase in population suggests an ongoing demand for housing, as people continue to move into the area for its amenities, lifestyle, and employment opportunities.
Investment Opportunities and Potential
The consistent growth in property values coupled with the steady population rise positions Woodstock as an attractive location for real estate investment. The 4% increase in house prices indicates strong potential for capital gains on residential property investments over time. Investors looking for long-term appreciation may find particular value in purchasing single-family homes.
Apartments offer a lower entry point into the market at a median price of $295,000 with a 2.5% year-over-year growth. They may represent an opportunity for investors seeking rental income. Given the diverse needs of the growing population, investing in multi-family units could cater to those seeking affordable living options.
In addition to residential properties, investors might explore commercial real estate opportunities driven by the expanding local economy and population growth. Diversification into commercial sectors such as retail spaces or office buildings could offer additional avenues for investment returns.
Future Market Outlook
The real estate market in Woodstock shows promising signs for continued growth. The positive price trends suggest that property values are likely to keep rising at a sustainable pace. Forecasting ahead, this upward trajectory is expected to carry on as long as the economic fundamentals remain stable and the population continues to grow.
Moreover, local government initiatives aimed at attracting businesses and improving infrastructure could further enhance property values and investment potential. However, investors should stay informed about any changes in economic conditions or policy adjustments that might impact the market dynamics.
In conclusion, Woodstock’s real estate market presents several opportunities for both residential and commercial investors. With careful analysis and strategic selection of properties or development projects, investors can potentially capitalize on the town’s growing economy and demographic trends.
