Cobb, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $490,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $490,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2024) | 15,100 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Cobb, Newfoundland and Labrador, is currently exhibiting steady growth. With a median house price of $490,000 and an annual increase of 2.8%, the market is showing positive momentum. The median apartment price stands at $295,000, with a slightly lower year-over-year growth rate of 1.5%. These trends suggest a stable market that is growing at a modest pace.
The population of Cobb has reached 15,100 residents and is experiencing a healthy growth rate of 2.02%. This demographic expansion is contributing to the demand for housing and helping to maintain a robust real estate market. Furthermore, the balanced increase in both house and apartment prices indicates a diverse set of options available for potential homeowners and investors.
Investment Opportunities and Potential
In terms of investment opportunities, Cobb presents a promising landscape for both residential property investors and those looking to invest in rental properties. Given the steady population growth and the consequent demand for housing, investing in real estate here could yield appreciable returns over time.
The consistent appreciation in property values offers potential for capital gains, while the growing population suggests a sustainable rental market. The modest yet stable increase in apartment prices points towards opportunities in the multi-family dwelling segment as well.
Investors should also consider local economic factors, development projects, and infrastructural improvements that can impact real estate values positively. Being proactive in identifying such influences can lead to strategic investment decisions that capitalize on future growth.
Future Market Outlook
Looking forward, the real estate market in Cobb appears poised for continued growth. The consistent rise in property values combined with ongoing population growth provides a positive forecast for the housing market’s trajectory.
If current trends persist, investors can reasonably expect further appreciation in property values and potentially higher rental yields. However, it will be important to monitor economic indicators closely as changes in employment rates or major policy shifts could influence future market conditions.
In conclusion, with careful analysis and strategic investment choices, stakeholders can look forward to taking advantage of Cobb’s growing real estate market. As always, potential investors should conduct thorough due diligence and consult with local real estate experts before making investment decisions.
