Astle, 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 Astle, New Brunswick, is currently experiencing steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the housing market shows consistent appreciation. Similarly, apartments are becoming more valuable, with the median apartment price sitting at $300,000 and witnessing a slower yet positive trend of 2.1% year-over-year. This growth can be attributed to favorable economic conditions, an influx of new residents, and a low-interest-rate environment that encourages buying over renting.
Investment Opportunities and Potential
Astle’s real estate market presents several opportunities for investment. The steady increase in property values suggests a healthy demand for both houses and apartments. Coupled with a 7.1% population growth, which is significantly higher than the national average, there is potential for both rental markets and resale value appreciation. The current trends indicate that investing in residential properties could yield considerable returns in the mid to long term as the population continues to grow and demand for housing strengthens. Additionally, investors looking for more immediate cash flow might consider the apartment sector due to its lower entry price point and ongoing demand for rental units.
Future Market Outlook
The future of Astle’s real estate market looks promising due to several indicators. The robust population growth rate suggests that there will be continued demand for housing in the region. Moreover, sustained property value increases point to a stable market where investment retains its worth over time. Given these factors, along with anticipated economic expansion and infrastructure development in the area, Astle is poised to remain an attractive market for both homebuyers and investors alike. However, potential investors should keep an eye on economic indicators such as employment rates and regional developments that could impact future market conditions.
