Kilbride, 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
Current Market Conditions and Trends in Kilbride, Newfoundland and Labrador
The real estate market in Kilbride, Newfoundland and Labrador is currently experiencing steady growth. With a median house price of $500,000 and a year-over-year price increase of 3.5%, the housing market shows signs of moderate strength. This increase is slightly above inflation, suggesting that homes are maintaining their value and slightly increasing in worth over time. The apartment sector is also growing, albeit at a slower pace, with the median apartment price sitting at $300,000 and witnessing a 2.1% year-over-year trend increase.
Kilbride’s population has swelled to 15,000 residents, marking a significant growth rate of 7.1%. This influx likely fuels some of the demand for housing in the area, contributing to the steady appreciation in property values. It may also indicate a healthy local economy that is attracting new residents for employment or lifestyle opportunities.
Investment Opportunities and Potential in Kilbride
The consistent rise in property values presents several investment opportunities in Kilbride. Investors can consider purchasing single-family homes which are currently appreciating at a rate of 3.5% annually. This suggests that investing in residential properties could yield solid returns as equity continues to build over time.
The apartment sector’s growth rate of 2.1% also presents potential for those looking to invest in multi-family units or rental properties. With the robust population growth, there will likely be an ongoing demand for rental accommodations, which could translate into stable rental income for investors.
Given Kilbride’s current trends and its population boom, new development projects may also emerge as lucrative investments. Developers have opportunities to cater to the needs of the growing population through the construction of both residential properties and amenities that enhance the community’s livability.
Future Market Outlook for Kilbride
Looking ahead, Kilbride’s real estate market appears poised for continued growth. Population increases typically lead to higher demand for housing, which could further drive up property values if supply does not keep pace with demand.
The steady appreciation rates for houses and apartments indicate a balanced market that is likely to remain attractive for both buyers and investors. If current trends persist, investors who enter the market now could see appreciable gains over the coming years.
However, it is important to monitor economic indicators such as employment rates, interest rates, and regional development plans, as these factors will play crucial roles in shaping the future real estate landscape of Kilbride.
In conclusion, Kilbride presents an appealing market with strong fundamentals supporting both short-term stability and long-term growth potential. While current conditions are favorable, investors should stay informed on local developments to make timely and strategic decisions.
