Embree, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $480,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.2% |
| 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 | $400,000 |
| 3 bedrooms | $480,000 |
| 4 bedrooms | $570,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| 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 in Embree, Newfoundland and Labrador
The real estate market in Embree, Newfoundland and Labrador is currently experiencing a period of moderate growth. The median house price stands at $480,000, which marks a year-over-year increase of 4.2%. This steady growth suggests a stable housing market that is moving in a positive direction. Similarly, the median apartment price is $295,000 with a more modest year-over-year appreciation of 2.5%. These trends indicate a balanced market where both houses and apartments are gaining value at sustainable rates.
Embree’s population has grown by 4.8% to reach 15,200 residents. This demographic growth can be seen as an underlying driver for the demand in housing, as more people are looking for homes in the area. The consistent population increase could potentially put upward pressure on real estate prices if the supply does not keep pace with demand.
Investment Opportunities and Potential in Embree
With the real estate market exhibiting healthy growth rates, there are investment opportunities to be considered in Embree. The continued rise in property values presents potential for capital gains over the long term. Houses have shown a slightly higher appreciation rate than apartments, suggesting that investing in detached or semi-detached properties might offer better prospects for investors seeking asset growth.
The population growth also indicates an increasing need for rental properties, providing an opportunity for investors looking to generate passive income through real estate. The rental market could expand due to the influx of new residents not ready or willing to purchase properties immediately upon relocating.
Future Market Outlook for Embree
The future market outlook for Embree’s real estate appears cautiously optimistic. Given the current trends of steady price increases and continuous population growth, it is likely that demand for housing will remain robust. However, it is essential to monitor economic factors such as employment rates and regional economic development initiatives which could impact the real estate market significantly.
If the trend of population growth persists and no significant changes occur in housing supply dynamics or macroeconomic conditions, one may expect a continued moderate upward trajectory in property values. That said, prospective buyers and investors should remain informed about local developments and broader economic indicators to make well-founded decisions.
