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 (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
Addington, New Brunswick is currently experiencing a stable real estate market. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing healthy growth that aligns with general economic inflation rates. Similarly, the apartment sector has seen a modest rise with the median apartment price at $300,000 and an annual trend of 2.1% growth. This suggests that while the market is expanding, it remains accessible for potential homebuyers and investors.
The population of Addington is 15,000 and has seen significant growth at 7.1%. This demographic expansion fosters a dynamic real estate demand, setting a foundation for continual market vitality. The corresponding demand for housing is expected to sustain property values and may even drive them higher as the availability of homes struggles to meet the needs of a growing populace.
Investment Opportunities and Potential
Given the steady increase in property values and population growth, Addington presents several investment opportunities. For investors looking at long-term growth prospects, single-family homes are particularly appealing due to their stronger year-over-year appreciation rate compared to apartments. The 3.5% growth rate in house prices indicates a robust investment potential for those seeking equity gains.
Apartments in Addington offer an alternative investment route with a slightly lower growth trend of 2.1%. This segment may appeal to investors focused on rental income streams given the swelling population and subsequent housing demand from individuals or small families who prefer or require more affordable living arrangements.
New developments and construction projects could also benefit from the positive market conditions as they cater to an increasing number of residents seeking modern housing solutions. Therefore, both residential development investments and buy-to-let strategies may be favorable under current market dynamics.
Future Market Outlook
Looking ahead, the future market outlook for Addington’s real estate appears promising. The consistent population growth rate of over 7% signals ongoing demand for housing which should underpin property values. If this demographic trend continues, it could lead to tighter inventory levels that typically exert upward pressure on prices.
Moreover, if current economic conditions persist and interest rates remain relatively low, access to mortgage financing will encourage home buying activity, thus supporting property price stability or further increases. However, investors should keep an eye on regional economic policies and infrastructure developments as these factors can significantly influence local real estate markets.
In conclusion, Addington’s real estate market presents a solid outlook with considerable investment opportunities due to its steady growth in both property values and population size. Prudent investors will monitor key indicators closely to make informed decisions that align with their financial goals.