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Corbin, Newfoundland and Labrador Real Estate Market Data

Updated: Nov 2024

House

Median price $485,000
Monthly growth 1.1%
Quarterly trend 2.8%
Stock on market 0.7%

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 $570,000

Apartments

Bedrooms Median Price
1 bedrooms $240,000
2 bedrooms $330,000
3 bedrooms $420,000

Demographics

Current Population (2025) 15,500
Previous Population (2020) 15,000
Population Change 3.3%
Total Private Dwellings 6,200
Occupied Private Dwellings 5,800
Population Density (per km²) 1.6
Land Area (km²) 2,500.5

Market Analysis





Corbin, Newfoundland and Labrador Real Estate Market Analysis

1. Current Market Conditions and Trends

In Corbin, Newfoundland and Labrador, the real estate market is experiencing a period of moderate growth. The current median house price stands at $485,000, which indicates a year-over-year increase of 2.8%. Meanwhile, apartments in the region are slightly more affordable, with a median price of $295,000, showing a smaller yet steady annual growth of 1.9%. This suggests a balanced market where both segments are appreciating at sustainable rates.

The population of Corbin has been growing at a healthy pace of 3.3%, now reaching approximately 15,500 residents. This demographic trend is contributing to increased demand for housing in the area, which may in turn continue to put upward pressure on property values over time.

2. Investment Opportunities and Potential

With the observed steady growth in property values and the increasing population, Corbin presents several attractive investment opportunities. Investors could potentially benefit from capital gains in the long-term residential market as well as from rental income streams. The stronger growth rate in house prices compared to apartments suggests that single-family homes might offer better capital appreciation prospects.

However, the affordability of apartments should not be overlooked as they present an entry point for first-time homebuyers and investors with less capital. Furthermore, as population growth is likely to drive demand for more diverse housing options, investing in multi-unit residential properties could be another strategic approach to tap into this expanding market.

3. Future Market Outlook

The future outlook for Corbin’s real estate market appears cautiously optimistic. Assuming that current economic conditions persist and the local economy continues to support job growth and attract residents, it is likely that the demand for housing will remain robust.

The steady increase in median home prices indicates a market that has not experienced rapid overheating but instead shows signs of sustainable growth. As long as the area’s economic fundamentals stay strong and there are no significant external shocks, both house and apartment prices could be expected to continue their gradual ascent.

Investors and homebuyers looking at Corbin should monitor factors such as employment rates, local industry performance, interest rates, and government housing policies — all of which could influence market dynamics moving forward.