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 in Baieverte, New Brunswick
The real estate market in Baieverte, New Brunswick, is currently characterized by a steady growth in property values. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This indicates a healthy demand for single-family homes and a consistent upward trend in property values, likely driven by favorable local economic factors and buyer confidence.
In comparison, the apartment sector is experiencing a slightly more modest growth trend. The median apartment price is currently $300,000, with an annual appreciation rate of 2.1%. While this growth rate is lower than that of houses, it demonstrates stability in the market for multifamily dwellings.
The population of Baieverte has reached 15,000 residents with a robust growth rate of 7.1%. This demographic expansion contributes to the increased demand for housing and can be seen as a primary driver for the observed real estate trends.
Investment Opportunities and Potential
Given the current market dynamics, Baieverte presents several attractive investment opportunities. The consistent growth in house prices at 3.5% suggests that investing in single-family homes could yield solid returns. The stability in the apartment market also makes it an appealing option for investors looking to capitalize on rental income, particularly as the population continues to grow at a significant rate.
The demographic trend implies a sustained demand for both rental and owner-occupied properties. Investors may consider diversifying their portfolio across different property types to mitigate risk and take advantage of various market segments.
Future Market Outlook
Looking ahead, the future market outlook for Baieverte remains positive. The ongoing population growth suggests that demand for housing will continue to rise. If the local economy maintains its current trajectory or improves further, there is potential for continued appreciation in property values over the coming years.
However, it’s important to monitor external economic factors that might impact interest rates and borrowing costs. Any significant shifts could influence buyer affordability and potentially affect the pace of market growth.
In summary, while current trends indicate sustainable growth, investors should stay informed about both local and broader economic indicators to make well-informed decisions regarding real estate investments in Baieverte.
