Gambo, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Gambo, Newfoundland and Labrador is currently experiencing a period of steady growth. With a median house price at $500,000, the market has seen an increase of 3.5% year-over-year, which indicates a healthy demand for single-family homes. Similarly, the apartment sector remains robust with a median price of $300,000 and a growth trend of 2.1% year-over-year.
This consistent price appreciation reflects a stable real estate environment in Gambo that is attractive to both residents and investors. The local population has seen significant growth at a rate of 7.1%, suggesting an influx of new residents seeking housing in the area. This demographic shift is likely contributing to the increased demand for both purchasing and renting properties.
2. Investment Opportunities and Potential
For investors considering Gambo’s real estate market, there are promising opportunities across various property types. The steady increase in property values suggests room for capital gains in the medium to long term.
The single-family home sector appears particularly enticing with its higher annual appreciation rate. Investors could capitalize on the potential for continued growth in this segment, especially as more people move into the region, driven by population growth.
Apartments offer another viable investment channel, as their slightly lower appreciation rate might appeal to those seeking more affordable entry points into the market or wishing to provide rental housing options to meet the needs of new residents.
Given Gambo’s population boom, there is also potential for developing new residential projects that could cater to the increasing housing demand or refurbishing existing properties to yield higher returns.
3. Future Market Outlook
The future outlook for Gambo’s real estate market appears positive based on current trends and demographic data. Given the solid population growth coupled with rising property values, it is likely that the demand for housing will continue to propel the market forward.
If these trends hold, investors can reasonably expect continued appreciation in property values over time. However, it is important to monitor economic factors such as employment rates, local industry performance, and interest rates as they can impact overall market health.
In conclusion, Gambo presents an attractive real estate profile characterized by steady growth, solid investment opportunities across various segments, and a positive long-term outlook if current trends persist. Stakeholders should stay informed on regional developments to make sound investment decisions aligned with future market shifts.
