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 currently experiencing a steady increase in property values. With a median house price of $500,000 and an annual growth rate of 3.5%, the housing market is showing healthy signs of appreciation, outpacing inflation and offering a stable investment for prospective buyers. Similarly, the median apartment price has reached $300,000, with a slower but consistent year-over-year increase of 2.1%.
This incremental growth is reflective of a burgeoning local economy and an increasing demand for housing in the area. The population of Escuminac has seen a significant rise of 7.1%, suggesting an influx of new residents or a demographic trend towards more household formations within its current population of 15,000. This growth contributes to the overall demand for residential properties.
Investment Opportunities and Potential
The steady growth in property values indicates that Escuminac presents viable investment opportunities. Investors looking at long-term capital gains should consider the single-family home market due to its higher growth rate. The current trends suggest that purchasing now could lead to substantial appreciation over time.
Apartments offer a lower barrier to entry for real estate investors and may be particularly appealing to those looking to engage in the rental market or seeking a more affordable investment option. With the population growth observed, there is potential for rental demand to increase, which might lead to a rise in rental yields.
In addition to residential real estate, investors should also consider commercial properties or land development projects given the positive population trends. This could be particularly attractive if the population growth is driven by economic factors that might lead to new businesses and infrastructure requiring commercial space.
Future Market Outlook
The future market outlook for Escuminac appears optimistic given the steady increase in property prices and robust population growth. If these trends continue, we can expect ongoing appreciation in property values across both housing and apartment markets.
However, potential investors should also monitor local economic indicators, interest rates, and national real estate policies that could impact market dynamics. Additionally, it is crucial to consider environmental factors unique to New Brunswick such as seasonal tourism fluctuations and climate conditions which may affect property values.
To capitalize on the potential of Escuminac’s real estate market, strategic investments aligned with long-term growth patterns would likely be most beneficial. As always, thorough due diligence and consultation with local real estate experts are recommended when considering any real estate investment.
