Alnwick, 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 | $450,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
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 Alnwick, New Brunswick, is currently experiencing steady growth. The median house price in the area stands at $500,000, with a year-over-year increase of 3.5%. This indicates a healthy demand for single-family homes, which are appreciating at a moderate pace. Meanwhile, apartments in Alnwick are slightly more accessible, with a median price of $300,000 and a more modest appreciation trend of 2.1% year-over-year. This growth is underpinned by an expanding population, which has risen by 7.1%, suggesting an influx of residents that could be driving housing demand.
Investment Opportunities and Potential
For investors considering the Alnwick market, the continuous population growth presents potential for both rental and resale markets. Single-family homes have shown stronger appreciation, potentially offering higher capital gains for long-term investments. Apartments could appeal to investors looking for rental properties to cater to new residents who may not be ready to purchase homes immediately upon relocating. With a balanced growth rate that is neither stagnant nor excessively speculative, Alnwick offers investment opportunities with a lower risk profile compared to more volatile markets.
Future Market Outlook
The future real estate market outlook for Alnwick appears promising. The consistent population increase suggests sustained demand for housing. Assuming the current trends continue, property values are likely to keep rising at a steady rate. It’s important to monitor factors such as employment rates, economic development initiatives, and infrastructure projects that could further influence the market dynamics. Overall, Alnwick’s real estate market presents itself as an attractive option for both homeowners and investors seeking stability and gradual growth.
