Evandale, 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 in Evandale, New Brunswick
In the picturesque town of Evandale, New Brunswick, the real estate market is currently experiencing a steady growth, as indicated by the year-over-year increase in property values. The median house price stands at $500,000, which reflects a healthy 3.5% growth compared to the previous year. This suggests a consistent demand for housing in the area, which could be driven by both local factors and broader national market conditions.
The apartment sector has also seen an uptick, with the median apartment price reaching $300,000, marking a 2.1% increase from last year. This slower growth rate in the apartment market compared to houses may indicate a preference among buyers and investors for detached properties, or it might reflect a more saturated apartment market.
Evandale’s population has recently grown by an impressive 7.1%, hinting at an influx of residents that could be contributing to the increased demand for housing. The convergence of these trends points towards a robust and dynamic market environment in Evandale.
Investment Opportunities and Potential in Evandale
Given the solid growth in property values and the significant population increase, Evandale presents attractive investment opportunities. Investors looking at long-term capital gains might find the rising house prices indicative of strong potential for future appreciation. The consistent but moderate rise suggests that the market is not experiencing volatile swings, which can be comforting for those looking to invest in a stable market.
The burgeoning population is likely to drive demand for both rental and owner-occupied properties. For those interested in rental investments, apartments could represent an opportunity to cater to individuals or smaller households who seek more affordable housing options or are not yet ready to enter the housing market as buyers.
The current trends also suggest room for development projects that can address any potential shortages in housing supply due to population growth. Careful analysis of local zoning laws, development charges, and community needs will be essential for success in such ventures.
Future Market Outlook for Evandale Real Estate
Looking ahead, the Evandale real estate market exhibits signs of continued strength. Assuming that current economic drivers such as employment rates and income levels remain supportive, we can expect ongoing appreciation in property values. The sustained population growth serves as an underlying force that should maintain demand for housing.
However, investors must also consider external factors that could impact the real estate landscape—interest rates, governmental policies on housing and development, and broader economic conditions all play pivotal roles. Should any of these factors shift unfavorably, they could dampen market prospects.
In summary, while present indicators point towards a positive trajectory for Evandale’s real estate market, investors should remain vigilant and informed about both local conditions and wider economic indicators to capitalize on opportunities and mitigate risks.
