Beresford, 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 Beresford, New Brunswick, is currently experiencing steady growth. The median house price in the region stands at $500,000, reflecting a year-over-year increase of 3.5%. This increment is indicative of a healthy demand for single-family homes in the area. Similarly, the median apartment price has reached $300,000, with a more modest growth trend of 2.1% year-over-year.
This upward movement in prices is likely influenced by Beresford’s growing population, which has recently increased by 7.1%, bringing the total population to approximately 15,000 residents. This demographic expansion is creating additional demand for housing across various sectors of the market.
Investment Opportunities and Potential
The consistent rise in property values coupled with the expanding local populace presents significant opportunities for real estate investors. The current trends suggest that purchasing residential properties in Beresford could potentially lead to capital appreciation over time. Moreover, the growing population may contribute to a rising demand for rental accommodations, making investment in apartment buildings or other multi-family dwellings an attractive prospect for generating steady rental income.
Investors should also consider the potential for developing new housing projects or renovating existing properties to capitalize on the increasing need for modern and diverse living spaces within Beresford.
Future Market Outlook
The future market outlook for Beresford appears optimistic. Given the solid population growth rate and sustained increases in property values, it is expected that both the residential and rental markets will continue to flourish in the foreseeable future. As long as these demographic and economic trends persist, Beresford’s real estate market should remain buoyant.
However, investors and homebuyers should monitor local and national economic indicators closely as shifts in interest rates, employment figures, and regional development plans could impact market conditions. Staying informed will be key to making sound investment decisions as the market evolves.
