Cloverdale, 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 Cloverdale, New Brunswick, is currently experiencing a period of moderate growth. With a median house price of $500,000 and an upward trend of 3.5% year-over-year, the market is showing signs of healthy demand. Similarly, the median apartment price stands at $300,000, which has risen by 2.1% from the previous year. This indicates a steady yet more conservative growth in the apartment sector compared to houses.
Such trends suggest that Cloverdale’s market is attractive to both homebuyers looking for stability and long-term value retention, as well as to investors seeking properties that appreciate over time. The growth in housing prices is likely reflective of the overall economic health of the region and the increased desirability of Cloverdale as a place to live. A contributing factor to this desirability is the robust population growth of 7.1%, which may be driving demand for housing and supporting price increases.
Investment Opportunities and Potential
The current real estate dynamics in Cloverdale offer promising investment opportunities. The consistent growth in property values coupled with significant population increase suggests that there is potential for continued demand for housing. Investors might find the current conditions favorable for purchasing residential properties that are likely to appreciate further.
Given the stronger growth rate in house prices compared to apartments, single-family homes may present particularly good opportunities for capital gains. However, apartments should not be overlooked, as their lower price point and solid growth trend make them accessible investment options with potential for rental income and long-term value appreciation.
Investors should also consider demographic trends such as the increasing population when evaluating potential development projects or targeting specific segments of the market such as first-time homebuyers or downsizing retirees.
Future Market Outlook
Looking ahead, the future market outlook for Cloverdale appears optimistic. The combination of reasonable year-over-year price increases and robust population growth bodes well for sustained market health. If these trends continue along their current trajectory, it is reasonable to expect ongoing demand for housing, which should support steady appreciation in property values.
However, it’s important to monitor economic indicators closely as changes in employment rates, local industry performance, and interest rates can impact real estate markets significantly. For now, if Cloverdale maintains its economic momentum and continues to attract new residents at a similar pace, the real estate market should remain strong.
In conclusion, investors considering Cloverdale should feel encouraged by current market conditions while remaining attuned to broader economic signals that could affect future performance.