Croque, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $475,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.8% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $475,000 |
| 4 bedrooms | $570,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| 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 steady growth as indicated by the median house price of $475,000, which has seen an increase of 3% year-over-year. This consistent rise in housing prices is reflective of a healthy market that is maintaining its growth momentum. In contrast, the median apartment price is $295,000, with a slightly lower growth rate of 1.8% year-over-year. The differential in growth rates between houses and apartments may suggest a stronger demand for single-family homes.
With a population of 15,200 that has grown by 2.7%, Croque is attracting new residents at a notable pace. This increase in population can be attributed to the area’s economic opportunities or lifestyle appeal, further driving demand in the local real estate market.
Investment Opportunities and Potential
The upward trend in home prices coupled with the stable increase in population indicates robust investment opportunities in Croque’s real estate market. The consistent appreciation in property values presents potential for capital gains over the medium to long term for investors. Additionally, the demographic growth suggests an increasing need for rental properties, which could benefit investors looking to enter the buy-to-let market.
The difference in growth trends between houses and apartments suggests that single-family homes may offer better investment returns at present; however, investors should not overlook apartments as they may cater to different segments of the market such as young professionals or smaller families who seek more affordable housing options.
Future Market Outlook
The future outlook for Croque’s real estate market appears optimistic. The sustained population growth will likely continue to fuel demand for housing across all sectors. Assuming no significant economic disruptions occur, the current trends suggest that both house and apartment prices will keep rising at a steady pace.
The ongoing development of infrastructure and amenities driven by population increases could further enhance property values over time. Investors and homebuyers with a long-term perspective may find Croque an attractive market given its potential for sustained growth and stability.
