Embree, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| 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 Embree, Newfoundland and Labrador, is currently experiencing steady growth, as indicated by the year-over-year increase in property values. The median house price stands at $485,000, with a growth trend of 4% from the previous year. This suggests a healthy demand for single-family homes in the area. On the other hand, apartments are also seeing appreciation, albeit at a slightly lower rate of 2.5% year-over-year, with the median price now at $295,000. This differential growth may be indicative of a stronger preference for detached homes in this market.
Investment Opportunities and Potential
The investment potential in Embree’s real estate market is underscored by its population growth of 3.3%, which is relatively high and signals a growing demand for housing. The consistent increase in property values suggests that investments in both houses and apartments can offer solid returns over time. For investors, single-family homes present a more robust appreciation potential given the higher year-over-year price increase compared to apartments. With a population of 15,500, Embree’s community is expanding, potentially boosting rental demand as well as home ownership, which could benefit long-term investors seeking appreciation or cash flow from rental income.
Future Market Outlook
The future outlook for Embree’s real estate market appears optimistic. The steady growth in property prices coupled with strong population expansion points towards sustained demand for housing. Investors can reasonably expect the continuation of current trends barring any significant economic shifts. Additionally, with current global economic trends favoring suburban and smaller community lifestyles post-pandemic, areas like Embree could benefit from an influx of new residents looking for more space and natural amenities. As such, the local real estate market may continue to see an upward trajectory in both property values and rental demand.
