Cambridgenarrows, 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 (2025) | 15,000 |
Previous Population (2020) | 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 Cambridge-Narrows, New Brunswick, is currently experiencing a steady growth. The median house price is at $500,000, with a year-over-year increase of 3.5%. This indicates a healthy demand for single-family homes in the area. Similarly, the median apartment price stands at $300,000, showing a more modest growth rate of 2.1% year-over-year. The population of Cambridge-Narrows has grown to approximately 15,000 residents, with an impressive growth rate of 7.1%, which may be contributing to the increased housing demand.
Investment Opportunities and Potential
The current trends in Cambridge-Narrows suggest that the real estate market holds promising investment opportunities. The steady appreciation in property values is a positive sign for potential investors looking for long-term capital gains. With single-family homes leading the growth trend, investors may find these properties particularly attractive for both resale and rental purposes. Moreover, the significant population growth implies a rising demand for housing which could benefit landlords and developers catering to this segment.
Future Market Outlook
Looking ahead, the future market outlook for Cambridge-Narrows appears optimistic. Given the solid population increase and consistent property value appreciation, it is likely that the real estate market will continue to expand. If the current trends persist, investors can expect sustained growth in property values over the coming years. However, it’s important to monitor local economic factors and any changes in demographic trends that could influence the market dynamics. Overall, Cambridge-Narrows presents as a robust market with favorable conditions for both residential living and real estate investment.