Alma, 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
The real estate market in Alma, New Brunswick is currently experiencing a stable increase in property values. With the median house price at $500,000 and observing a year-over-year growth of 3.5%, the residential sector shows healthy appreciation. Similarly, the median apartment price stands at $300,000, with a slower yet consistent increase of 2.1% year-over-year.
The population of Alma has grown to 15,000, marking a significant growth rate of 7.1%. This demographic expansion suggests increased housing demand, which may be contributing to the steady climb in property values. Despite these upward trends, the market remains accessible when compared to major urban centres.
Investment Opportunities and Potential
The current growth pattern in Alma’s real estate market indicates several promising investment opportunities. Investors might take interest in single-family homes due to their higher appreciation rate compared to apartments. The robust population growth implies a potential for rental properties to satisfy new residents’ needs, making multi-unit residential buildings an appealing prospect as well.
In light of the continuous upward trend in property values and the considerable population increase, long-term investment strategies seem particularly favorable. Real estate investors could potentially leverage these conditions to secure assets that will appreciate over time while generating rental income.
Future Market Outlook
The future outlook for Alma’s real estate market remains optimistic. Given the solid population growth and consistent price increases across housing types, it is reasonable to expect sustained demand for residential properties. However, investors should monitor potential shifts in local economic conditions, interest rates, and national housing policies that could affect market dynamics.
The relatively modest yet steady price trends suggest that Alma’s real estate market is not experiencing rapid overheating or speculation, which bodes well for its stability and long-term viability. As such, both homebuyers and investors can approach this market with confidence but should remain informed about broader economic indicators that influence real estate health.