Canterbury, 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
1. Current Market Conditions and Trends
The real estate market in Canterbury, New Brunswick is currently experiencing a period of moderate growth. With a median house price of $500,000 and an upward year-over-year trend of 3.5%, the market is showing signs of steady appreciation. This suggests a healthy demand for housing and a competitive environment for potential home buyers. The median apartment price stands at $300,000, with a slightly lower growth rate of 2.1% year-over-year, indicating a more gradual increase in demand for multi-family dwellings.
The population of Canterbury has seen a significant increase, with a growth rate of 7.1%. This demographic expansion is likely contributing to the demand for housing in the area, influencing both price trends and market conditions. The consistent growth trends across housing types reflect an overall stable market that may be attractive to homeowners and investors alike.
2. Investment Opportunities and Potential
Investment potential in Canterbury’s real estate market appears promising due to the consistent rise in property values. For investors looking to purchase residential properties, the current trends suggest that there could be continued appreciation in property values, offering potential capital gains over time.
With the population expanding at a robust rate, there is also the possibility of increased rental demand. Investors could benefit from purchasing properties to rent out, taking advantage of potential rental yield growth as the local economy and population continue to expand. Furthermore, new development projects could arise as a result of this growth, offering additional opportunities for investment in both residential and commercial real estate sectors.
3. Future Market Outlook
The outlook for Canterbury’s real estate market remains optimistic based on current trends and demographic data. Assuming that the population continues to grow at its current pace or even accelerates due to factors such as economic development or immigration, demand for housing is likely to remain strong.
The steady increase in property prices indicates a balanced market that is not experiencing volatile swings or overheating—a positive sign for sustainable long-term growth. Investors and homebuyers can be cautiously optimistic about entering the market with reasonable expectations for appreciation and return on investment.
It will be important to monitor economic factors such as employment rates, interest rates, and regional development plans which may influence future market conditions. Keeping abreast of such data will be essential for making informed decisions regarding real estate investments in Canterbury.