Bathurst, 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 Bathurst, New Brunswick, is currently characterized by a steady growth in property values. The median house price stands at $500,000, having experienced a 3.5% year-over-year increase. This consistent rise indicates a healthy demand for residential properties, reflecting overall economic stability and the attractiveness of Bathurst as a place to live.
Similarly, the apartment sector is showing positive dynamics, with the median apartment price reaching $300,000 — a 2.1% year-over-year growth. Though the increase in apartment prices is slightly more modest compared to houses, it still points towards an upward trend in the market.
The population of Bathurst stands at approximately 15,000 people, and it has been experiencing robust growth with a 7.1% increase. This significant population surge is likely contributing to the increased demand for housing and can be seen as a precursor to further growth in real estate prices.
Investment Opportunities and Potential
Bathurst’s rising property values coupled with its growing population present appealing investment opportunities. The consistent growth in house prices suggests that investing in residential real estate could yield considerable returns. Single-family homes, given their higher appreciation rate of 3.5%, may offer better capital gains in the medium to long term.
Apartments are also a viable investment option, particularly for those looking to enter the market at a lower price point or seeking rental income. With an annual appreciation of 2.1%, investors can expect steady growth while potentially tapping into the city’s rental market buoyed by population growth.
Moreover, with ongoing population expansion, there may be opportunities for new development projects catering to various segments of the market, including affordable housing options that could address increasing demand.
Future Market Outlook
The future outlook for Bathurst’s real estate market appears promising. Given the solid year-over-year increases in property values and substantial population growth, we can anticipate continued demand for housing. This growth trajectory is likely to sustain or even potentially increase if current trends persist.
Economic development initiatives and infrastructure investments within Bathurst will play critical roles in shaping future market conditions. Provided there are strategic efforts to attract businesses and improve amenities, Bathurst’s appeal as a residential destination could strengthen further, thereby driving up real estate values over time.
Cautious optimism is advisable for investors considering entry into this market as macroeconomic factors such as interest rates and employment levels will influence future performance. However, current data indicates that Bathurst’s real estate market has strong fundamentals that bode well for sustained growth.
