Codys, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Codys, New Brunswick is currently experiencing a steady growth phase. With a median house price of $500,000, which represents a year-over-year increase of 3.5%, the market is showing healthy appreciation. Similarly, apartments are following an upward trend with a median price of $300,000 and an annual growth rate of 2.1%. These figures indicate a balanced market that is growing at a sustainable pace.
The population of Codys has risen to 15,000 residents, marking a significant population growth rate of 7.1%. This demographic shift suggests an increasing demand for housing which is likely to support the continued growth in property values.
Investment Opportunities and Potential
Investors considering the Codys real estate market can be cautiously optimistic about the investment opportunities it presents. The consistent rise in median house prices points towards stable long-term capital gains for residential properties. Moreover, the steady uptick in apartment values may interest investors looking for lower entry points into the market or diversification within their real estate portfolio.
The robust population growth not only fuels housing demand but can also lead to a rise in rental demand, potentially offering attractive rental yields for buy-to-let investors. As new residents seek accommodation, both rental and purchase markets are likely to benefit.
Future Market Outlook
Looking ahead, the future market outlook for Codys appears positive. The combination of solid population growth and consistent property value increases suggests that the real estate market here has strong fundamentals. If current trends persist, investors could see continued appreciation in property values over the coming years.
However, it’s important to monitor local economic developments and infrastructure investments that could impact the real estate landscape. Investors should conduct thorough due diligence and consider both macroeconomic factors and micro-market conditions when making investment decisions.
