Centreville, 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 in Centreville, New Brunswick
The real estate market in Centreville, New Brunswick, currently exhibits stable growth, as indicated by the median house price standing at $500,000, showcasing a year-over-year increase of 3.5%. This steady appreciation suggests a healthy demand for single-family homes in the area, reflecting consumer confidence and a robust economic environment.
In contrast, the median apartment price is observed at $300,000, with a somewhat lower year-over-year price trend of 2.1%. The slower pace of growth in the apartment sector might indicate a market that is less heated than that for houses but still presents a positive upward trajectory, which may appeal to buyers looking for more affordable entry points into the property market or investors seeking rental properties.
The local population has experienced significant growth, currently boasting a figure of 15,000 residents. This represents an impressive population growth rate of 7.1%, which is likely contributing to increased housing demand and could be an indicator of future real estate market expansion.
2. Investment Opportunities and Potential in Centreville
With the combination of population growth and appreciating property values, Centreville presents numerous investment opportunities. The consistent appreciation in house prices suggests that purchasing residential properties could yield solid returns over time. Investors eyeing long-term capital gains might consider single-family homes as a strategic asset class within their portfolios.
The apartment sector’s more moderate growth rate may present an opportunity for investors to acquire properties at relatively lower price points with potential for both rental income and capital appreciation. Given the population increase and demand for more diverse housing options, rental properties may see higher occupancy rates and rising rental prices over time.
Investors should also pay attention to areas within Centreville that are experiencing particularly rapid development or infrastructure improvements, as these locations may offer above-average value increases due to heightened desirability.
3. Future Market Outlook for Centreville Real Estate
The future outlook for Centreville’s real estate market remains optimistic based on current trends and demographic indicators. The steady increase in median house and apartment prices is expected to continue as population growth drives demand for housing. Furthermore, if the local economy continues to expand and attract new residents, this trend may even accelerate.
However, it is crucial for investors to monitor economic conditions closely because any downturn could affect employment rates and purchasing power, potentially leading to slowed market growth or stabilization in property values.
In conclusion, while short-term fluctuations are always possible due to external factors such as interest rates or broader economic shifts, Centreville’s strong foundation—highlighted by consistent property value increases and robust population growth—suggests continued positive momentum in its real estate market over the long term.