Burnsville, New Brunswick Real Estate Market Data
Updated: Nov 2024
House
| Median price | $480,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| 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 | $480,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $325,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| 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 moderate level of growth. The median house price in the locale stands at $480,000, which marks a 4.2% increase year-over-year. This suggests a steady upward trend in housing prices, reflecting a healthy demand for homes in the area.
In contrast, the apartment sector shows a more modest growth pattern with the median apartment price at $295,000 and an annual appreciation rate of 2.5%. While this is a positive trend, it indicates that apartments are becoming more expensive at a slower pace than houses, possibly due to differing market dynamics or buyer preferences.
Burnsville’s population has grown to 15,500 residents, with a notable population growth rate of 3.3%. This demographic expansion can be attributed to various factors such as employment opportunities, quality of life, and the town’s attractiveness to newcomers which underpin the current real estate demand.
Investment Opportunities and Potential
The current trends in Burnsville offer promising investment opportunities. The steady rise in house prices suggests that investing in residential property could yield significant returns over time. Investors should consider the fact that single-family homes are appreciating at a faster rate than apartments, indicating stronger capital gains potential in this segment.
Furthermore, with the ongoing population growth, there will likely be increased demand for rental properties. This creates a favorable environment for investors looking to purchase rental units or develop new apartment complexes. The lower appreciation rate for apartments may also present an attractive entry point for investors seeking long-term income generation through rentals.
Future Market Outlook
The future outlook for Burnsville’s real estate market appears optimistic. Given the solid year-over-year growth in housing prices and the sustained increase in population, it is reasonable to expect that both trends will continue to support a robust real estate market.
The local economy’s performance and any future infrastructure developments will play critical roles in shaping the market’s trajectory. Should these factors remain favorable, Burnsville could maintain its path of stable growth and remain an attractive destination for homebuyers and investors alike.
In conclusion, Burnsville presents itself as a market with balanced growth prospects supported by continuous population influx and consistent property value appreciation. Stakeholders should keep an eye on economic indicators and demographic shifts to make informed decisions about real estate investments in this community.
