Benton, 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 Benton, New Brunswick is currently experiencing stable growth. The median house price in the area stands at $500,000, indicating a healthy year-over-year increase of 3.5%. This consistent appreciation suggests a sustained demand for single-family homes. Similarly, the apartment sector is showing positive movement, with median prices at $300,000 and a more modest growth rate of 2.1% annually.
Benton’s population has expanded by 7.1%, which is a significant driver for housing demand. This demographic shift is influencing the market by creating new opportunities for both buyers and sellers, with available inventory struggling to keep pace with the influx of new residents. The broadening population base can also stimulate rental market growth, catering to those who may not be ready to enter the homeownership market.
Investment Opportunities and Potential
The upward trajectory in home values coupled with steady population growth suggests that Benton presents viable investment opportunities. Investors looking to capitalize on residential properties might find long-term capital gains in the single-family home sector due to the robust annual growth rate.
Moreover, given the slower yet consistent rise in apartment prices, multifamily units represent an attractive investment for those interested in rental income streams. The burgeoning population could increase rental demand, possibly resulting in favorable yields for landlords and real estate investors focusing on this segment of the market.
Investments in new construction could also be promising given the demographic expansion. There is potential for developers to meet housing demand through strategic developments that cater to the preferences of both new and existing residents.
Future Market Outlook
Looking forward, Benton’s real estate market appears poised for continued growth. If current trends hold, investors and homeowners can expect ongoing appreciation in property values. The sustained population increase should continue to underpin this growth as demand for housing remains strong.
Cautious optimism is warranted due to economic variables such as interest rates and employment levels which could affect affordability and purchasing power. Nonetheless, if Benton maintains its appeal as a desirable location with strong community attributes and economic fundamentals remain supportive, the real estate market here has a positive outlook over the medium to long term.