Chipman, 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 Chipman, New Brunswick, is currently experiencing stable growth. The median house price in the region stands at $500,000, which indicates a healthy year-over-year increase of 3.5%. This consistent upward trend suggests a robust demand for single-family homes within the area.
In contrast, the apartment sector shows a slightly more moderate growth pattern, with the median apartment price now at $300,000, reflecting a year-over-year rise of 2.1%. This difference in growth rates may be attributed to a greater demand for space and privacy, which has become a significant factor influencing buyer preferences in recent years.
The population of Chipman has reached 15,000 residents and has seen an impressive growth rate of 7.1%, signaling an influx of new residents and potential homebuyers into the area. The increasing population is likely contributing to the overall demand for housing and may be driving property prices upward.
Investment Opportunities and Potential
Given the steady growth in both house and apartment prices, Chipman presents attractive investment opportunities. Single-family homes seem particularly promising due to their stronger appreciation rate. Investors can expect continued demand in this segment due to the area’s population growth and the general trend towards larger living spaces.
Apartments offer a more affordable entry point into the real estate market for both investors and first-time homebuyers. With a steady appreciation rate of 2.1% year-over-year, apartments represent a more conservative investment that still provides potential for capital gains while also being suitable for rental income strategies.
The expanding population base also underpins potential investment opportunities in new construction and development projects tailored to meet the growing housing needs of the community.
Future Market Outlook
The future outlook for Chipman’s real estate market appears positive. Assuming current trends continue, we can anticipate ongoing growth in property values across both housing sectors. The town’s robust population growth rate will likely sustain housing demand and could lead to tighter market conditions if supply doesn’t keep pace with demand.
With economic stability and potential infrastructural developments that often accompany population expansion, investors can maintain a cautiously optimistic view of Chipman’s real estate market over the medium to long term.
Careful monitoring of market conditions is advised for both current homeowners looking to sell and potential investors considering entering the market. Attention should be given to local economic factors, interest rates, and national real estate policies that might affect future market performance in Chipman.