Escuminac, 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 Escuminac, New Brunswick, is experiencing a period of steady growth. The median house price currently stands at $500,000, reflecting a year-over-year increase of 3.5%. This indicates sustained demand and a healthy market for single-family homes. Concurrently, the median apartment price is $300,000, with a more modest growth rate of 2.1% over the past year. This disparity in growth rates suggests that houses are becoming increasingly desirable compared to apartments, possibly due to changing buyer preferences or a shortage in supply.
Investment Opportunities and Potential
The investment landscape in Escuminac presents several opportunities, particularly in the residential sector. Given the population growth of 7.1%, which is significantly above the national average, demand for housing is likely to continue its upward trajectory. Investors may find potential in purchasing properties to cater to the growing population or exploring development opportunities to expand the housing stock.
Furthermore, with the current trends indicating stronger growth for houses over apartments, investors might consider focusing on single-family homes or townhouses as these property types seem to be appreciating at a faster pace. However, given the price appreciation across both segments, rental properties also offer a promising avenue for generating steady income streams while capitalizing on long-term asset appreciation.
Future Market Outlook
Looking ahead, Escuminac’s real estate market appears poised for continued growth. The robust population increase suggests sustained demand for housing which may keep prices on an upward curve. As long as economic conditions remain favorable and housing supply does not outpace demand significantly, both homebuyers and investors can expect a stable market environment.
However, it’s essential to monitor key economic indicators and stay informed about local development plans that could affect the real estate landscape. For example, new infrastructure projects or changes in zoning laws could either bolster or dampen growth prospects. In summary, while current signals point towards a positive outlook for Escuminac’s real estate market, stakeholders should maintain a vigilant approach to adapt to any shifts in market dynamics.
