Colliers, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
Median price | $495,000 |
Monthly growth | 1.1% |
Quarterly trend | 3.4% |
Stock on market | 0.9% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.5% |
Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $495,000 |
4 bedrooms | $610,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $340,000 |
3 bedrooms | $450,000 |
Demographics
Current Population (2025) | 15,200 |
Previous Population (2020) | 14,500 |
Population Change | 4.8% |
Total Private Dwellings | 6,100 |
Occupied Private Dwellings | 5,700 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Colliers, Newfoundland and Labrador is currently experiencing a period of steady growth. With a year-over-year increase of 3.4% in median house prices, which now stand at $495,000, the market demonstrates moderate but consistent appreciation. Similarly, the apartment sector has witnessed a 2.5% rise year-over-year, with median prices reaching $295,000. This growth trajectory aligns with the region’s population increase of 4.8%, suggesting an expanding demand for housing driven by demographic changes.
Investment Opportunities and Potential
The investment prospects in Colliers are promising due to the sustained growth in property values and a burgeoning population that fosters a strong rental market. The ratio between the median house and apartment prices highlights the opportunity for investors to enter the market at various price points. Investors may focus on single-family homes for long-term equity gains or consider apartments for potentially higher yield investments due to lower entry costs and growing demand for rental units among residents who may not be ready or able to purchase property.
Future Market Outlook
Looking forward, Colliers’ real estate market is poised to maintain its upward trajectory, albeit at a conservative pace. The continued population growth will likely drive demand for housing both in terms of ownership and rentals. However, potential investors and homebuyers should monitor local economic factors and national policy changes that could impact interest rates and borrowing costs. Vigilance regarding such variables will be crucial for making informed decisions in this active yet relatively stable market environment.