Croque, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.4% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $410,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| 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 Croque, Newfoundland and Labrador, is currently experiencing a period of steady growth. With a median house price of $495,000, the market has seen a year-over-year increase of 3.2%. Similarly, the median apartment price stands at $295,000, which has grown by 2.4% over the past year. This positive trend reflects a robust demand for housing in the area.
The population of Croque has also seen a significant increase, growing at a rate of 2.7%, indicating a burgeoning community that may further stimulate the real estate market. The influx of new residents suggests that there is an ongoing demand for housing, both in terms of ownership and rentals.
Investment Opportunities and Potential
Investors considering the Croque real estate market can find opportunities in both residential and rental properties. The continuous upward trend in property prices indicates that investing in real estate could yield substantial returns over time. The consistent population growth further enhances the potential for rental investments as new residents seek accommodation.
The stable increment in property values suggests that Croque is a promising location for long-term investment strategies. With the median home price being under half a million dollars, there are opportunities for investors at various levels to enter the market.
Future Market Outlook
The future outlook for Croque’s real estate market remains optimistic. Given the current trends and population growth patterns, it is reasonable to expect that property values will continue to rise steadily. This sustained growth presents an advantageous situation for both buyers looking to invest in a growing market and sellers hoping to capitalize on appreciating property values.
As the local economy adapts to accommodate the increasing population size, we may see further development projects initiated which could introduce new inventory and potentially influence market dynamics positively. However, it’s important for investors and potential homeowners to stay informed on local economic policies and development plans as these factors can significantly impact future market conditions.
