Bascaraquet, 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 Bascaraquet, New Brunswick, is currently experiencing steady growth. The median house price stands at $500,000, showcasing a year-over-year increase of 3.5%. This indicates a healthy demand for detached homes in the region. Similarly, the median apartment price is $300,000, with a slightly lower annual growth rate of 2.1%. This disparity suggests that houses are currently more sought after than apartments, potentially due to changing lifestyle preferences or the appeal of greater personal space which became more pronounced following recent global events.
Investment Opportunities and Potential
Given the population growth of 7.1% in Bascaraquet, which is significantly higher than the national average, there is an evident increase in housing demand. This demographic trend presents a favorable environment for investment in residential real estate. Investors should note that the current growth rates in property values offer a promising return on investment (ROI) potential, especially when considering long-term capital gains.
Furthermore, the stronger increase in house prices relative to apartments could point towards a particularly high ROI for single-family homes and larger residential properties. Investors might also explore opportunities in developing multi-unit rental properties to cater to the growing population or consider renovations and flipping older properties given the upward pricing trend.
Future Market Outlook
The future market outlook for Bascaraquet remains optimistic. The robust population growth can be seen as a precursor to continued demand for housing, which may sustain or even increase current property value trends. If these demographic trends persist alongside economic stability and favorable mortgage rates, Bascaraquet’s real estate market could potentially outperform other regions with stagnant or declining populations.
However, investors should remain attentive to broader economic conditions and local developments that could impact market dynamics. As always, thorough market research and due diligence are recommended before committing to any real estate investment.
