Fairfield, 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 in Fairfield, New Brunswick
As of the latest data, Fairfield’s real estate market is characterized by a steady growth pattern. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This indicates a stable market with moderate appreciation rates for homeowners. Similarly, the apartment sector shows a positive trend, with the median apartment price reaching $300,000 and experiencing a 2.1% year-over-year growth.
The population of Fairfield has grown to 15,000 residents, marking a significant 7.1% increase. This demographic expansion has been a contributing factor to the healthy demand in housing, as more people require accommodation in the area. Consequently, this demand supports the continuing rise in property values and underpins the overall health of Fairfield’s real estate market.
Investment Opportunities and Potential in Fairfield
Investors considering Fairfield will find potential in both the residential housing and apartment sectors due to consistent price growth. The solid year-over-year increases indicate that investments made in these types of properties are likely to benefit from capital gains over time.
The ongoing population growth suggests that rental properties could also be a viable investment strategy. As new residents look for housing, investors may capitalize on the increased need for rental accommodations. With apartments showing slightly lower appreciation rates compared to houses, there could be an opportunity to enter the market at a more accessible price point while still participating in property value appreciation.
Future Market Outlook for Fairfield’s Real Estate
Looking forward, Fairfield’s real estate market shows promising signs for continued growth. The steady increase in property values across both houses and apartments suggests a balanced market that is not experiencing volatile swings. Given the robust population growth rate of 7.1%, it is reasonable to expect that demand for housing will remain strong, further supporting property prices.
Additionally, if current economic conditions persist and interest rates remain favorable, we can anticipate sustained investment activity in Fairfield’s real estate market. Prospective investors should monitor local economic developments and infrastructure investments as they can have significant impacts on future property values and overall market dynamics.
In summary, Fairfield presents an attractive profile for both homebuyers and investors with its stable price appreciation trends and growing population base. Careful consideration of broader economic indicators and ongoing monitoring of local market conditions will be essential for making informed investment decisions moving forward.
