Addington, New Brunswick 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Addington, New Brunswick is currently experiencing steady growth. With a median house price sitting at $500,000, there has been a 3.5% year-over-year increase in home values. This suggests a healthy demand for housing in the area, coupled with a moderate pace of price inflation that is attractive for both existing homeowners and potential buyers.
Similarly, the apartment sector shows positive momentum, with the median apartment price reaching $300,000, which marks a 2.1% year-over-year growth. This more modest rate of increase indicates a stable market that is potentially more accessible for first-time buyers and investors looking for lower entry points into the property market.
The population of Addington has grown to 15,000 residents, showing a significant population growth of 7.1%. This demographic expansion has been a contributing factor to the sustained demand for housing and is likely to continue supporting property values in the foreseeable future.
Investment Opportunities and Potential
Addington’s real estate market presents several investment opportunities. The consistent growth in median house and apartment prices paints a picture of an area on the rise, potentially offering stable long-term gains for investors. There is particular potential for those interested in rental properties due to the population increase, which could drive demand for both short-term and long-term rental accommodations.
Furthermore, as the market has not experienced explosive growth rates, it retains an attractiveness by not being overly speculative. This balance could appeal to investors who are wary of markets with high volatility. Moreover, with current trends indicating continued growth, albeit at sustainable levels, investments made today have the potential to benefit from incremental value appreciation over time.
Future Market Outlook
The outlook for Addington’s real estate market remains positive. The ongoing population growth is expected to persist as more people are attracted to the region’s lifestyle and economic opportunities. This demographic trend will likely underpin demand for housing and can be seen as a bullish signal for both home prices and rental rates.
If current trends continue along their present trajectory without external shocks or local economic downturns, we can anticipate further gradual increases in property values. Investors should monitor factors such as interest rates, employment rates within Addington, and regional economic policies that might influence future market conditions.
In conclusion, careful analysis of local and national economic indicators should be conducted regularly to ensure that investment decisions are made with the most current data available. However, based on current statistics and trends, Addington offers promising investment opportunities with an optimistic future outlook.
