Chipman, New Brunswick Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,800 |
| Population Change | 1.4% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.4 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Chipman, New Brunswick is experiencing a period of moderate growth. The median house price currently stands at $495,000, with a year-over-year increase of 3.2%. This indicates a steady upward trend in property values, reflecting a healthy demand for housing in the region. Meanwhile, the median apartment price is $295,000, which has risen by 2% over the past year. This slower growth rate suggests that while apartments are appreciating in value, the market for single-family homes may be more dynamic.
Investment Opportunities and Potential
With a population of 15,000 and an annual growth rate of 1.4%, there is a continuous influx of potential homebuyers and renters into Chipman. This demographic trend provides a solid foundation for real estate investment opportunities. The steady increase in property values coupled with the region’s population dynamics suggests that investments in both residential properties and rental apartments have the potential to yield favorable returns. Additionally, Chipman’s real estate market has not experienced overly rapid price increases, potentially offering more sustainable long-term investment prospects compared to more volatile markets.
Future Market Outlook
The future outlook for Chipman’s real estate market appears positive. Given the consistent population growth and stable appreciation of property values, the demand for housing is expected to remain robust. As long as economic conditions in New Brunswick maintain their course, the local real estate market should continue to offer both stability and growth potential to investors. However, it is crucial for investors to keep abreast of any changes in economic factors that could influence the direction of the housing market, such as employment rates or major infrastructure developments in or around Chipman.
