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 steady growth pattern. With the median house price standing at $500,000, the market has seen an increase of 3.5% year-over-year. This indicates a healthy demand for single-family homes, which continues to drive prices upward at a moderate pace.
The apartment sector is also showing positive momentum with a median price of $300,000 and a slower year-over-year growth of 2.1%. This relatively modest increase suggests that the apartment market might be more accessible for first-time homebuyers and investors looking for lower entry points into the real estate market.
Cloverdale’s population has grown to 15,000, marking a significant population growth of 7.1%. This demographic trend is likely contributing to the increased demand for housing in the area.
Investment Opportunities and Potential
The current trends indicate that Cloverdale offers promising investment opportunities in both residential housing and the apartment sector. The stable growth in house prices coupled with significant population growth positions the community as an attractive locale for families and individuals seeking a suburban lifestyle. Investors may find value in purchasing properties to cater to this demographic.
The apartment market’s slower growth rate presents an opportunity for investors aiming for long-term equity build-up while potentially capitalizing on rental income, given the inflow of residents to Cloverdale. As affordability becomes more challenging with rising house prices, apartments could become increasingly desirable, driving up both rental rates and occupancy levels.
Future Market Outlook
The outlook for Cloverdale’s real estate market remains optimistic. The continuous population growth implies sustained demand for housing, which should support further price increases albeit at a measured pace. However, investors and homebuyers should monitor economic indicators and interest rate trends that could affect affordability and borrowing costs.
If current trends persist, both sectors—houses and apartments—can expect gradual appreciation over the coming years. Nonetheless, external economic factors such as employment rates and macroeconomic stability are essential considerations that can influence future market conditions.
