Charlo, 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 Charlo, New Brunswick is currently experiencing a steady growth in property values. The median house price stands at $500,000, with an upward trend of 3.5% year-over-year, suggesting consistent demand and a healthy market. Similarly, the median apartment price has reached $300,000, with a slightly lower growth rate of 2.1% year-over-year. These figures indicate that the market is more favorable for house owners and investors as compared to those interested in apartments.
A noteworthy aspect of the Charlo real estate market is its population growth of 7.1%, which sits at approximately 15,000 residents now. This increase in population serves as an underlying driver for the demand for housing and can be seen as a positive sign for potential investors looking at the stability and long-term growth of the real estate market.
Investment Opportunities and Potential
The steady growth in property values coupled with robust population growth points towards promising investment opportunities in Charlo. Investors might find single-family homes particularly attractive due to their higher appreciation rate. Moreover, given the population increase, there is potential for investments in new residential developments to accommodate incoming residents seeking housing.
For those looking to invest in rental properties, the rising population suggests a growing rental market which could provide stable income streams. However, investors should also consider local rental regulations and vacancy rates to ensure that their investment decisions are well-informed.
Future Market Outlook
Moving forward, the real estate market in Charlo appears poised for continued growth. If current trends persist, property values are expected to keep rising moderately. The sustained population growth should continue to serve as a catalyst for housing demand.
However, future investors and current homeowners should stay informed about any economic developments that may impact interest rates or employment levels within the region as these factors can affect purchasing power and housing demands significantly.
In conclusion, Charlo’s real estate market presents several attractive opportunities for both homebuyers and investors alike. With thoughtful consideration of market data and trends, stakeholders can make strategic decisions that capitalize on the town’s potential for continued growth.
