Baieverte, 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 Baieverte, New Brunswick is currently experiencing modest growth. The median house price stands at $500,000, with a healthy year-over-year increase of 3.5%. This indicates a stable market with consistent demand for housing. Similarly, the median apartment price has been observed at $300,000, showing a slightly lower but still positive trend with a 2.1% rise year-over-year.
The population of Baieverte is currently around 15,000 residents, and with a significant growth rate of 7.1%, there is an increasing demand for residential properties. This ongoing population influx is likely contributing to the steady rise in property values and may signal sustained market health.
Investment Opportunities and Potential
The real estate market in Baieverte offers promising investment opportunities, particularly in residential properties. The combination of rising property values and significant population growth suggests that demand for housing will continue to increase. Investors may find potential in purchasing single-family homes, given their higher appreciation rates, or in multi-unit residential buildings to cater to those preferring apartments.
Furthermore, as the population expands, there may be opportunities for developing new residential projects or revitalizing existing properties to meet the diverse needs of incoming residents. Strategic investments in areas poised for further development could yield substantial returns as the market continues to mature.
Future Market Outlook
The future outlook for Baieverte’s real estate market appears optimistic. The consistent increase in property values coupled with robust population growth suggests that the demand for housing will likely persist. Assuming no significant economic disruptions occur, the market is poised for continued expansion.
The current trends also indicate that there may be room for rental market development as newcomers often seek temporary housing before purchasing homes. Therefore, investors focusing on rental properties could benefit from this demographic shift.
In summary, while careful monitoring of economic indicators is always advisable, Baieverte’s real estate market shows promising signs for both short-term gains and long-term investment potential.
