Belledune, New Brunswick Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.9% |
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 | $385,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Belledune, New Brunswick
The real estate market in Belledune, New Brunswick, is currently characterized by a steady growth in property values. With a median house price of $495,000 and an annual appreciation rate of 3.2%, the housing market shows signs of moderate strength. On the other hand, the median apartment price stands at $295,000, with a slightly lower year-over-year growth rate of 2.5%. This suggests a stable yet less dynamic market for apartments compared to houses.
The town’s population has seen a healthy increase of 4.8%, which may be contributing to the demand for housing and the consequent rise in property values. The demographic trend implies a growing community that could sustain or potentially heighten demand in the housing sector.
Investment Opportunities and Potential in Belledune
Given the current growth rates in property values, Belledune presents itself as an attractive location for investors looking for steady appreciation potential without the volatility observed in larger markets. The consistent increase in house prices suggests that investments in residential real estate could yield positive returns over time.
The rise in population also points to an opportunity for rental property investments, as new residents may initially seek rental accommodation before purchasing homes. Investors might consider targeting the apartment sector due to its relatively lower entry price point and strong potential for rental demand.
Future Market Outlook for Belledune Real Estate
Looking ahead, the real estate market in Belledune appears poised for continued modest growth. The underlying factors supporting this outlook include ongoing population increases and sustained interest from homebuyers and investors alike. As long as these trends persist—balanced with considerations such as employment opportunities, economic development, and interest rates—the market could maintain its trajectory.
However, it is important for stakeholders to monitor local economic conditions and broader national economic policies that may impact mortgage rates and borrowing costs. Careful analysis of these variables will be essential for making informed predictions about the future state of Belledune’s real estate market.
In conclusion, while no market can be entirely predictable, current indicators suggest that Belledune’s real estate market will continue to offer investment opportunities with potential for capital growth over the medium to long term.
