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 is currently characterized by steady growth. The median house price in the area is sitting at $500,000, with a year-over-year increase of 3.5%. This incremental growth suggests a stable market that has been consistently appreciating over time. On the other hand, the median apartment price is $300,000, showing a slower growth trend of 2.1% year-over-year. The different growth rates between houses and apartments may indicate a higher demand for single-family homes as opposed to multi-family units or apartments.
Kilbride’s population has seen a significant growth of 7.1%, which can be an indicator of economic health and potential further demand in the housing market. This population increase could be due to various factors including job opportunities, attractive lifestyle offerings, or regional development initiatives attracting new residents.
Investment Opportunities and Potential in Kilbride
Given the steady appreciation in property values and the notable population growth, Kilbride presents solid investment opportunities. Investors looking at single-family homes can expect continued growth based on historical data with the median house price trend of 3.5%. This points towards potential for capital gain in the medium to long term, especially if the population continues to rise.
Apartments are also increasing in value but at a slightly more conservative rate of 2.1% year-over-year. This might appeal to investors seeking lower entry points into the real estate market or those interested in targeting rental markets that cater to smaller households.
With these factors in mind, investors should look into areas within Kilbride that are experiencing higher demand or where there may be plans for future development that could enhance property values further.
Future Market Outlook for Kilbride
The future outlook for Kilbride’s real estate market appears promising based on current trends and demographic data. If the current rate of population growth sustains at 7.1%, it will likely continue to drive demand for housing in both purchase and rental markets. Such demographic momentum could lead to increased investment from both private and public sectors, possibly resulting in new developments and infrastructure improvements which typically bolster property values further.
The consistent appreciation of house prices lends confidence to potential buyers and investors that the market is reliable for long-term investments. However, it is important to consider external economic factors such as interest rates, employment rates, and provincial economic policies that might affect consumer purchasing power and investment attractiveness.
In conclusion, while current trends point towards a healthy real estate market in Kilbride with potential for continued growth, investors should maintain due diligence and keep abreast of local and national economic indicators that could impact future market conditions.
