Drummond, 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 (2025) | 15,000 |
| Previous Population (2020) | 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 Drummond, New Brunswick is currently experiencing steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market shows a consistent upward trend in property values. Similarly, the median apartment price stands at $300,000, with a slower yet positive growth rate of 2.1% over the past year.
This growth is reflective of a robust market that is managing to maintain momentum despite broader economic uncertainties. The population of Drummond has grown by 7.1%, indicating an increasing demand for housing in the region. This demographic trend is likely contributing to the sustained appreciation in home values as more people seek residency in the area.
Investment Opportunities and Potential
Given the steady rise in property values and the significant population growth, Drummond presents attractive investment opportunities for both residential and rental markets. The consistent increase in house prices suggests that purchasing real estate now could yield capital gains in the medium to long term.
The rental market also shows potential, especially considering the growing population. Investors looking to capitalize on this trend might consider acquiring apartments or houses to meet the rental demand. With apartment prices increasing at a slower rate compared to houses, they may represent a more accessible entry point for investors with prospects for rental income stability.
Future Market Outlook
The future outlook for Drummond’s real estate market appears optimistic. The combination of steady price growth, strong population increases, and ongoing demand suggests that the local real estate market will remain buoyant. If current trends persist, investors and homeowners alike can expect continued appreciation in property values.
However, prospective buyers and investors should monitor local economic indicators and be mindful of external factors that could impact the market, such as interest rate changes or shifts in employment patterns. Staying informed will be key to making astute decisions in this active market.
