Coverdale, 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 Coverdale, New Brunswick, is currently experiencing moderate growth with single-family homes leading the trend. The median house price stands at $500,000, with an appreciable year-over-year increase of 3.5%. This indicates a stable market that is growing at a healthy pace, which is both attractive to homeowners and investors.
Apartments in Coverdale are more affordable, with the median price at $300,000. The apartment market is also seeing growth, albeit at a slightly slower rate of 2.1% year-over-year. This suggests a steady demand for more affordable multi-family living spaces, likely driven by smaller households or those seeking entry-level housing options.
With a population of 15,000 and a robust population growth of 7.1%, Coverdale’s real estate demand is set to maintain an upward trajectory. This influx of residents can be attributed to various factors including employment opportunities, lifestyle preferences, and the area’s overall livability.
Investment Opportunities and Potential
Investors looking to capitalize on the Coverdale real estate market may find significant opportunities in both the single-family home sector and the apartment market. The consistent increase in property values indicates a sound investment potential for long-term capital gains.
The demographic trends suggest that investing in properties that appeal to families and professionals moving into the area could be particularly lucrative. With population growth outpacing many other regions, new developments or refurbishment projects in well-located neighborhoods might cater to the increased demand for housing.
Additionally, the rental market could offer promising returns due to the ongoing population increase. Landlords may benefit from both price appreciation and stable rental income as more people move into the area seeking accommodation.
Future Market Outlook
The future outlook for Coverdale’s real estate market remains positive. The sustained population growth serves as a key indicator of continued demand for housing in both purchase and rental segments. If current economic conditions persist, we can expect further increases in property values though potentially at different rates for houses versus apartments.
An important factor to monitor will be local economic developments that could impact employment and income levels within Coverdale. Any significant changes could either accelerate or dampen the current growth trends in the real estate market.
In conclusion, while current trends point towards a robust market with good investment potential, stakeholders should stay informed about regional economic indicators that may influence future market conditions.
