Colinet, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
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 | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $345,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| 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 Colinet, Newfoundland and Labrador, currently exhibits a steady increase in property values. The median house price in the region is $485,000, with a year-over-year growth of 3.2%. This indicates a healthy market that is experiencing gradual appreciation. Similarly, the apartment sector is also showing positive momentum with the median apartment price at $295,000, increasing at a slightly slower pace with a 2.5% year-over-year trend.
The population of Colinet has grown to 15,500 residents, reflecting a significant population growth rate of 3.3%. This demographic expansion has been one of the key drivers for housing demand, influencing both the rental and sales markets positively.
2. Investment Opportunities and Potential
Given Colinet’s ongoing population growth and consistent increase in property values, the area presents promising investment opportunities. Investors should pay particular attention to single-family homes due to their higher appreciation rate of 3.2% year-over-year, which outpaces that of apartments.
Moreover, with a median price significantly lower than that of houses, apartments in Colinet offer an accessible entry point for investors looking to capitalize on the region’s growing rental market driven by the expanding population. The steady growth trend suggests that investments made in this segment could yield solid returns through both capital appreciation and rental income.
3. Future Market Outlook
The future market outlook for Colinet remains optimistic given current trends and demographic indicators. If the population continues to grow at or above the current rate of 3.3%, it can be expected that demand for housing will keep driving the real estate market forward.
In light of this positive trajectory, investors might consider long-term investments to take advantage of potential further property value increases and sustained rental demand. However, it is important to monitor economic conditions closely as they can greatly impact real estate markets.
