Bright, 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 Bright, New Brunswick is currently experiencing healthy growth. With a median house price of $500,000 and an upward trend of 3.5% year-over-year, the market is demonstrating consistent appreciation. Similarly, the median apartment price stands at $300,000 with a growth trend of 2.1% year-over-year. These statistics suggest a stable and growing housing market.
The population of Bright has grown by 7.1%, indicating a growing demand for housing in the region. This influx is likely contributing to the steady increase in property values, as more individuals and families seek to purchase homes in the area.
Investment Opportunities and Potential
For investors considering Bright, New Brunswick as a potential location for real estate investment, there are several positive indicators. The consistent rise in property prices shows promise for capital gains over time. Moreover, with the population increasing significantly, there is potential for rental investments to meet the housing demand from new residents.
The current trends also suggest that both residential properties and apartments can be attractive investment options, with single-family homes offering higher appreciation rates than apartments. Investors should consider diversifying their portfolio within Bright’s real estate market to capitalize on different segments.
Future Market Outlook
Looking ahead, the future market outlook for Bright appears optimistic. Given the solid year-over-year growth in property values and rising population figures, it’s reasonable to anticipate ongoing demand for housing. As long as economic conditions remain favorable and Bright continues to attract new residents through job opportunities or lifestyle offerings, the real estate market should maintain its upward trajectory.
It will be important for investors to monitor factors such as local employment rates, infrastructure developments, and interest rate changes that could influence the market dynamics. However, based on current data, Bright’s real estate market holds significant potential for sustained growth in both the short-term and long-term.
