Burnsville, 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 Burnsville, New Brunswick, is currently experiencing a period of growth with median house prices sitting at $500,000, demonstrating a year-over-year increase of 3.5%. This steady growth indicates a healthy demand for housing in the area. The median price for apartments stands at $300,000, with a more modest year-over-year price trend of 2.1%. These figures suggest that the market for apartments is also growing but at a slower rate compared to houses.
The population of Burnsville has recently seen a substantial growth rate of 7.1%, signaling an inflow of residents and potential homebuyers. This population increase may be contributing to the current demand for housing and can be expected to continue to influence the market dynamics positively.
Investment Opportunities and Potential
The ongoing appreciation in property values presents lucrative opportunities for investors looking to enter the Burnsville real estate market. The consistent growth in house prices reflects both the desirability and the stability of the local housing market. With its rising population, Burnsville may also see increased rental demand, which could benefit investors focused on income-generating properties such as multi-family units or apartment buildings.
Moreover, while apartment prices are increasing at a slower pace compared to houses, this sector still offers room for capital gains and can be particularly attractive for investors seeking lower entry points into the real estate market. The diverse range of investment opportunities suggests potential for various investment strategies, from flipping and long-term rentals to development projects catering to the growing populace.
Future Market Outlook
The future outlook for Burnsville’s real estate market appears optimistic given the current trends and underlying economic factors. The robust population growth is likely to sustain demand for housing, which could further drive up property values. As long as this upward trajectory in population continues, the market should remain buoyant with an ongoing influx of new residents seeking accommodation.
If these conditions persist, we can expect the positive trends in both house and apartment prices to continue into the foreseeable future. Investors and homebuyers alike might find now to be an opportune time to enter the market before prices climb higher due to sustained demand. However, it’s critical for stakeholders to monitor any shifts in local economic drivers or policy changes that could influence future market conditions.
