Berwick, New Brunswick Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 0.8% |
Apartment
| Median price | $320,000 |
| 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 | $495,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,100 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.0% |
| 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
The real estate market in Berwick, New Brunswick is currently experiencing steady growth. With a median house price of $495,000, the market has seen a year-over-year increase of 3%. This suggests a healthy and stable investment environment for single-family homes. Similarly, the median apartment price stands at $320,000, which has climbed by 2.5% from the previous year. The consistent growth in both housing segments indicates a balanced market where both buyers and sellers are finding agreeable ground.
Population growth in Berwick is also on an upward trajectory at a rate of 2%, signaling ongoing demand for housing as more people choose to reside in this locality. The influx of residents can be attributed to Berwick’s appealing small-town charm coupled with its proximity to larger urban centers, providing a blend of tranquility and accessibility that is increasingly sought after.
Investment Opportunities and Potential
The current market trends in Berwick provide a variety of investment opportunities. The steady increase in property values, paired with moderate population growth, suggests that demand for housing will continue to rise. This makes investments in both residential properties for sale and rental units attractive options.
For investors looking at long-term gains, purchasing single-family homes could be particularly beneficial due to the higher year-over-year price increase compared to apartments. Meanwhile, the apartment market offers a slightly lower entry point with substantial potential for rental income, especially considering the growing population seeking housing options within Berwick.
New developments and renovations of existing properties could also present lucrative opportunities. With careful market analysis and strategic property selection, investors stand to benefit from the town’s consistent growth patterns.
Future Market Outlook
The future outlook for the real estate market in Berwick remains optimistic. Assuming the continuation of current economic conditions and migration trends, it is reasonable to expect sustained growth in property values. The 3% increase in house prices and 2.5% rise in apartment prices are likely to maintain or potentially improve as the local economy diversifies and more people move to the area for its lifestyle benefits.
Additionally, as remote work becomes more prevalent and individuals seek out communities offering a better quality of life away from congested cities, places like Berwick may see an accelerated rate of population growth which could further drive up demand for housing.
Investors should monitor key factors such as interest rates, employment levels, and regional economic developments which could impact property values. However, given the current data and trends, Berwick’s real estate market presents as a solid choice for those looking to invest in New Brunswick’s growing communities.
