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 characterized by a steady growth in property values. The median house price in the area is $500,000, which represents a 3.5% year-over-year increase. This indicates a healthy upward trend for homeowners and sellers, suggesting that the market is experiencing consistent demand.
In contrast, the median apartment price is $300,000, with a slower growth rate of 2.1% year-over-year. This could point to a relatively higher demand for detached homes compared to apartments or perhaps an increase in apartment supply that tempers price acceleration.
The population of Deerville stands at 15,000 residents, with an impressive growth rate of 7.1%. Such demographic expansion typically brings about increased demand for housing, both for purchase and rent, potentially putting upward pressure on property values over time.
Investment Opportunities and Potential
The combination of robust population growth and steady appreciation in property values presents an attractive landscape for real estate investment in Deerville. The continuous rise in median house prices suggests that investing in residential properties could yield solid returns over the medium to long term.
Given the more modest appreciation rate for apartments, investors might uncover opportunities to purchase these properties at competitive prices today, with the potential for considerable value increases as the local population continues to expand.
Investors should also consider diversifying their portfolio within the local market by exploring different property types and locations within Deerville to mitigate risks and capitalize on micro-trends within the broader market trend.
Future Market Outlook
The future outlook for Deerville’s real estate market remains optimistic based on current trends. The significant population growth serves as a key indicator of sustained demand for housing. If the town continues to attract new residents at the current rate, it can be expected that both house and apartment prices will continue to rise due to increased competition for available properties.
However, investors and homeowners should remain aware of external economic factors such as interest rates, employment rates within the region, and national economic policies that can influence local market conditions.
In conclusion, Deerville’s real estate market appears poised for continued growth with multiple opportunities for investment. Prudent investors will monitor the market closely while considering long-term trends and demographic shifts to make informed decisions.
