Deerville, 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 Deerville, New Brunswick, is currently experiencing a phase of moderate growth. The median house price in the region stands at $500,000, with a year-over-year increase of 3.5%. This steady rise indicates a healthy demand for single-family homes. The apartment market is also showing positive momentum, albeit at a slightly slower pace with a median price point of $300,000 and a 2.1% year-over-year price trend.
The population of Deerville has grown by 7.1%, which can be associated with the burgeoning demand for housing. This demographic shift suggests a robust absorption rate for new inventory entering the market and may lead to tightening availability if the pace of construction does not keep up with demand.
Investment Opportunities and Potential
Investors considering Deerville will find potential in both the residential housing and apartment sectors. The consistent appreciation in property values presents an opportunity for long-term capital gains. Rental properties could also be lucrative due to the increasing population and corresponding demand for housing.
Given that single-family homes are appreciating at a slightly higher rate than apartments, investors might prioritize this segment for higher capital appreciation potential. However, apartments should not be overlooked as they offer more affordable entry points into the market and may cater to a broader rental audience.
Future Market Outlook
The future outlook for Deerville’s real estate market remains optimistic. Population growth is likely to continue spurring demand for housing. If economic conditions remain stable and interest rates favourable, the market should maintain its upward trajectory.
However, it’s crucial for stakeholders to monitor local economic developments and infrastructural improvements that could further influence property values and investment potential. For example, job market expansion or enhancements in public services could amplify market growth beyond current projections.
In summary, while no market is without risk, Deerville’s real estate profile suggests a relatively secure environment for both seasoned investors and first-time homebuyers alike.
