Cambridgenarrows, New Brunswick Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 1.8% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $570,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Cambridge-Narrows, New Brunswick currently exhibits stable growth. With a median house price of $485,000, the market has seen a modest year-over-year increase of 2.5%. This reflects a healthy demand for housing in the area while maintaining affordability compared to larger urban markets. The median apartment price is presently at $295,000, with a slightly lower year-over-year growth rate of 1.8%. This difference suggests that houses are in higher demand relative to apartments, which may be due to consumer preference for more space or the small-town charm that Cambridge-Narrows offers.
The town’s growing population, now at 15,200, with a significant growth rate of 4.8%, is indicative of an influx of residents. This could be attributed to its attractive lifestyle options and potential for economic opportunities, contributing to the increased housing demand.
Investment Opportunities and Potential
Given the steady rise in property values coupled with the population growth, Cambridge-Narrows presents appealing investment opportunities. Investors might focus on single-family homes which have shown a consistent appreciation in value. The slow yet steady apartment price increase also suggests that there is potential for rental investments as the local population grows.
In addition to residential properties, investors should consider exploring options within the commercial sector or new developments catering to the increasing population. As infrastructure expands to support new residents, there is likely room for retail spaces, services, and other community amenities that will benefit from enhanced local spending power.
Future Market Outlook
The future market outlook for Cambridge-Narrows appears promising. Population growth tends to drive demand for housing and can foster a seller’s market environment if supply does not keep pace. Should this trend continue, it’s anticipated that property values will maintain an upward trajectory, albeit at a sustainable rate.
The moderate appreciation rates suggest that the market is less likely to experience abrupt price corrections compared to more volatile regions. For prospective buyers looking long-term or investors interested in stable yields from rental incomes or capital gains, Cambridge-Narrows represents an attractive market with measured growth potential.
In conclusion, those considering entering or expanding their portfolio in Cambridge-Narrows’ real estate market can do so with a reasonable expectation of stability and gradual appreciation in property values driven by demographic trends and local economic development.
