Colliers, 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 | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,200 |
| 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 currently exhibits stable growth. With a median house price of $485,000, the market has seen a 3.2% year-over-year increase. This growth trend signifies a healthy demand in the housing sector. The median apartment price stands at $295,000, which has risen by 1.9% over the past year. This somewhat more moderate increase suggests that apartments are also in demand, but perhaps with a slightly lower intensity compared to houses.
The population of Colliers has been growing at a robust rate of 4.83%, which is likely contributing to the rising demand for housing in the area. As the population currently stands at 15,200, this growth trend can be expected to continue driving the real estate market forward.
Investment Opportunities and Potential
The steady increase in housing prices coupled with significant population growth indicates strong investment potential in Colliers. The sustained demand for single-family homes presents opportunities for developers and investors to capitalize on the construction of new residential units or renovation of existing properties. Additionally, the apartment sector’s consistent performance suggests that multi-family residential investments could offer stable returns, particularly when aimed at accommodating the inflow of residents.
In terms of rental investments, as more people move into the area, there may be an increased need for rental properties. Investors could potentially benefit from purchasing properties to cater to this segment as well, especially considering possible future price appreciations.
Future Market Outlook
The future outlook for Colliers’ real estate market appears positive. With ongoing population growth and a solid year-over-year price increase for houses and apartments, it is likely that both property values and demand will continue their upward trajectory. This trend suggests a promising environment for both short-term gains through flips and long-term investments such as rental properties.
However, investors should monitor economic factors such as employment rates, new housing construction rates, and any changes in local policies that could affect real estate dynamics. Keeping abreast of these indicators will be key to making informed decisions in this active market.
