Mobile, 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
The real estate market in Mobile, Newfoundland and Labrador, is currently experiencing stable growth. With a median house price of $500,000 and a year-over-year price increase of 3.5%, the market is showing signs of healthy demand. The apartment sector is also witnessing growth with a median price point of $300,000 and a year-over-year trend increasing by 2.1%.
This steady appreciation in property values can be attributed to the region’s population growth, which stands at a robust 7.1%. Such demographic expansion suggests a growing demand for housing, driven by both local residents and those relocating to Mobile. The consistent upward trend in prices indicates that the market is absorbing new listings effectively without causing an oversupply.
Investment Opportunities and Potential
Investors looking to capitalize on the Mobile real estate market may find diverse opportunities, especially considering the ongoing population growth. Long-term residential investments appear promising given the consistent rise in property values. The single-family home segment, with its higher appreciation rate, might offer greater capital gains potential compared to apartments.
Rental properties could also be lucrative due to an increasing population that may not immediately transition into homeownership. As more people move into the area, demand for rental units is likely to surge, potentially driving up rental yields for investors.
Investors should also note that as new infrastructure and services are developed to accommodate the growing population, adjacent areas may become newly desirable, creating opportunities for strategic land acquisition before prices peak in response to further development.
Future Market Outlook
Looking ahead, Mobile’s real estate market prospects remain optimistic. Continued population growth will likely maintain upward pressure on both home prices and rental rates. If the current trends persist—moderate but steady price growth coupled with demographic expansion—the market could see sustained investment interest over the long term.
However, investors must monitor local economic factors that could impact employment and income levels in Mobile, as these will ultimately influence buyers’ purchasing power. Additionally, keeping an eye on national economic indicators and mortgage rates will provide valuable context for future real estate decisions in this locality.
In conclusion, Mobile’s real estate market is characterized by steady growth with potential for profitable investment across various sectors. A cautious yet optimistic approach is advisable for those considering entry into this market.
