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 (2024) | 15,000 |
| Previous Population (2019) | 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
In Centreville, New Brunswick, the real estate market is currently experiencing a steady growth in property values. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This suggests a healthy demand for residential properties, reflecting a stable market condition. Meanwhile, the median apartment price has reached $300,000, with a more modest growth rate of 2.1% year-over-year. The slower rate of increase for apartments might indicate a slightly lower demand or greater inventory levels compared to houses.
The population of Centreville is approximately 15,000, and it has witnessed a significant growth of 7.1%. This demographic trend is likely contributing to the persistent demand for housing in the area and may be driving the consistent appreciation in property values.
Investment Opportunities and Potential
The positive trends in population growth combined with the upward trajectory in property values suggest that Centreville holds promising investment opportunities. The consistent rise in house prices indicates that purchasing residential property could yield substantial returns over time. Investors looking at long-term capital gains should consider the local housing market.
Apartments present an alternative investment opportunity, particularly for those interested in rental income or more affordable entry points into the real estate market. With a 2.1% annual increase in value, investors could benefit from both rental yields and gradual asset appreciation.
Future Market Outlook
The future outlook for Centreville’s real estate market remains optimistic. Assuming current trends continue, the combination of population growth and steady economic development should sustain demand for housing. The historical data suggests that both houses and apartments will likely enjoy further appreciation, though houses may offer higher potential returns given their stronger growth rate.
Nevertheless, investors should monitor local economic factors and potential shifts in population dynamics that could affect supply and demand balances. With careful consideration to these elements, the Centreville real estate market appears poised to remain an attractive area for both homebuyers and investors alike.
