Cobb, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.9% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.8% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $245,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,400 |
| Previous Population (2020) | 14,500 |
| Population Change | 6.2% |
| Total Private Dwellings | 6,100 |
| 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 Cobb, Newfoundland and Labrador is experiencing a period of moderate growth. The median house price currently stands at $485,000, reflecting a year-over-year increase of 2.9%. This increment indicates a steady, albeit mild appreciation in housing values, suggesting a stable market that has not been subject to the rapid inflation seen in some other Canadian markets.
The apartment sector shows a similar pattern of growth, with the median apartment price rising to $295,000, which is up by 1.8% from the previous year. This more modest rate of increase points towards a balanced demand for more affordable and smaller-scale housing options.
The population of Cobb has grown by 6.2% to reach 15,400 residents. This growth suggests an increasing demand for housing due to demographic expansion which may continue to push property values upward if the pace of new housing construction doesn’t keep up with demand.
Investment Opportunities and Potential
Given the steady growth in both housing prices and population, Cobb presents potential investment opportunities particularly for those looking to enter the market before prices potentially accelerate further. The steady increase in property values offers investors a chance for capital appreciation over time.
Apartments could be particularly attractive for investors given their lower entry price point and the growing interest from small families, professionals, and downsizers seeking more manageable living spaces. Additionally, rental properties may become increasingly lucrative as the population continues to swell and demand for rental units grows.
With its current growth trajectory and economic stability, Cobb offers a promising environment for both residential and commercial real estate investments.
Future Market Outlook
The future real estate market outlook for Cobb appears optimistic due to its sustained population growth and consistent property value appreciation. If these trends continue along with economic stability, it’s reasonable to expect that both the residential and commercial sectors will see ongoing increases in demand.
The local government’s urban planning and development policies will play a crucial role in shaping the market’s trajectory. Should there be efforts towards creating additional housing stock or improving local amenities, this could enhance livability and thus attract more residents and investors alike.
However, it is crucial for potential investors to monitor local economic indicators as well as national policy changes that could affect mortgage rates or taxation on property ownership which would influence overall affordability and investment returns.
