Cookville, 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
1. Current Market Conditions and Trends
The real estate market in Cookville, New Brunswick currently presents a stable and growing environment. With a median house price of $500,000, the market has seen a steady year-over-year increase of 3.5%. This suggests that properties are appreciating at a moderate pace, which may be linked to positive economic factors within the region as well as a growing demand for housing.
Similarly, the median apartment price is set at $300,000 with an observed year-over-year growth of 2.1%. The slower growth rate in apartment prices compared to houses indicates that while there is interest in multi-family dwellings, it is not as robust as the single-family home market.
Cookville’s population has expanded by an impressive 7.1%, signaling an influx of residents that could be due to various factors such as employment opportunities, lifestyle changes, or regional development projects. This population growth is likely contributing to the increased housing demand and supporting the continued appreciation of property values in the area.
2. Investment Opportunities and Potential
The current market conditions in Cookville offer several investment opportunities. The consistent rise in house and apartment prices presents a potential for capital gains for those looking to invest in residential properties. Given the solid population growth, rental demand is likely to remain strong, offering investors the chance to generate stable rental income alongside long-term property appreciation.
Investors should consider both single-family homes and multi-family units when assessing their options. While homes have shown a higher appreciation rate, apartments could be an attractive choice for those looking to cater to smaller households or individuals drawn to Cookville by its growing economy.
3. Future Market Outlook
Looking ahead, the future market outlook for Cookville appears optimistic. Assuming that the current trends continue—namely population growth and economic stability—the demand for housing is expected to persist or even increase. This suggests that investing in Cookville’s real estate market could yield favorable returns over time.
However, potential investors must also weigh local economic developments and any upcoming regulations that might impact property values. Monitoring interest rates, employment trends, and infrastructure projects will also be crucial for making informed decisions about entering or exiting the market.
