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 exhibiting a stable growth pattern. The median house price stands at $500,000, with an upward trend of 3.5% year-over-year. This increase indicates a healthy demand for single-family homes in the region. Additionally, the median apartment price has been recorded at $300,000, also experiencing a positive growth trend of 2.1% year-over-year. This suggests that both segments of the housing market are appreciating, albeit at different rates.
The population of Mobile has seen significant growth, currently pegged at 15,000 residents, with a notable population growth rate of 7.1%. This demographic expansion has likely contributed to the increased housing demand, putting further upward pressure on property prices.
Investment Opportunities and Potential
Considering the steady rise in property values, investment opportunities in Mobile appear promising. Investors looking to capitalize on this trend might find good potential in long-term property appreciation. The consistent growth in median house prices reflects an enduring appeal of single-family homes which could be attractive for those seeking rental income or resale gains.
Apartments present a more modest growth rate but are nonetheless increasing in value, signifying a sustained interest in multi-family units. Given the population growth and the accompanying demand for diverse housing options, investing in apartments could provide a solid return on investment through rental income and long-term capital appreciation.
Future Market Outlook
The future market outlook for Mobile seems optimistic based on current trends. With the population expected to continue its upward trajectory, demand for housing should remain robust. If the local economy supports job creation and maintains its attractiveness to new residents, we can anticipate further pressure on housing supply which may result in continued price appreciation.
However, investors should remain mindful of external economic factors such as interest rates and employment levels which can influence buyer affordability and consequently impact market dynamics. Nonetheless, given Mobile’s current performance indicators and demographic trends, the real estate market here is positioned for continued growth over the medium to long term.
