Baspaquetville, New Brunswick Real Estate Market Data
Updated: Nov 2024
House
Median price | $485,000 |
Monthly growth | 1.0% |
Quarterly trend | 4.2% |
Stock on market | 0.7% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.5% |
Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $485,000 |
4 bedrooms | $575,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $260,000 |
2 bedrooms | $340,000 |
3 bedrooms | $440,000 |
Demographics
Current Population (2025) | 15,500 |
Previous Population (2020) | 15,000 |
Population Change | 3.3% |
Total Private Dwellings | 6,200 |
Occupied Private Dwellings | 5,800 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Baspaquetville, New Brunswick is currently experiencing a period of steady growth. With a median house price of $485,000, the market has seen a year-over-year increase of 4.2%. This suggests that the area is attracting homebuyers and investors alike, possibly due to its amenities, location, or economic opportunities. The median apartment price stands at $295,000, which has also experienced growth albeit at a slower pace of 2.5% year-over-year. This differential in growth rates indicates that houses may be in higher demand compared to apartments.
The population of Baspaquetville has been growing at a rate of 3.3%, which is likely contributing to the increased demand for housing in the area. As the population continues to rise, it can be expected that this will have a continued positive effect on both housing demand and prices.
Investment Opportunities and Potential
For investors considering Baspaquetville’s real estate market, there are compelling opportunities to be found. The steady increase in both house and apartment prices suggests a stable investment environment with the potential for ongoing appreciation. Given the population growth rate, there is an opportunity for both rental and resale markets. Rental properties could be particularly attractive investments as new residents may look for temporary housing before purchasing homes.
Investors might also explore developments geared towards segments like retirees or young professionals, depending on local demographic trends. Additionally, given the current trends, flipping houses—buying properties to renovate and sell at a higher price—might also be profitable in this market.
Future Market Outlook
The future outlook for Baspaquetville’s real estate market appears optimistic. The consistent population growth indicates sustained demand for housing that will likely continue to drive property values upward. If current economic conditions remain stable or improve, this trend may persist or even accelerate.
However, investors and homebuyers should keep an eye on broader economic indicators and local development plans that could affect the market dynamics. Infrastructure projects, employment opportunities, and interest rates are all factors that can influence future market conditions.
In conclusion, Baspaquetville presents an appealing market with healthy growth in real estate values driven by increasing population figures. Continued monitoring of economic factors will be key in maximizing investment opportunities in this region.