Brockway, 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 Brockway, New Brunswick is experiencing a period of steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%. This indicates a healthy demand for housing in the area, likely driven by the region’s population growth of 7.1%, which is significantly higher than the national average. The median apartment price currently stands at $300,000, having risen by 2.1% over the past year. This more modest increase suggests that while there is interest in multi-family dwellings, the market is not as heated as that for detached homes.
Investment Opportunities and Potential
For investors looking to enter the Brockway real estate market, there are several opportunities worth considering. The consistent growth in housing prices reflects a stable investment environment with potential for long-term capital gains. Single-family homes represent a particularly appealing option, given their higher rate of appreciation. Furthermore, with a growing population, rental properties could offer sustained income streams as demand for both long-term accommodations and short-term rentals may increase as the area expands.
Future Market Outlook
The future outlook for Brockway’s real estate market appears optimistic. Population growth serves as an indicator of economic health and suggests that the demand for housing will continue to rise. Assuming that local economic conditions remain favorable and infrastructural developments keep pace with population expansion, it is reasonable to expect that both house and apartment prices may continue on an upward trajectory over the coming years.
However, it is important to consider external factors such as interest rate changes, national economic performance, and regional policies which could impact market dynamics. Investors should stay informed about these broader trends while also keeping an eye on local developments such as new construction projects or changes in zoning laws that could affect property values in Brockway.
