Florencevillebristol, 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 Florenceville-Bristol, New Brunswick is currently experiencing a period of moderate growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing consistent upward movement, though at a sustainable rate. Similarly, apartments in the area have seen a smaller yet steady growth trend, with a median price of $300,000 and a 2.1% year-over-year increase. This indicates that while houses are in greater demand, apartments are also appreciating albeit at a slower pace.
Investment Opportunities and Potential
Considering the population growth of 7.1%, which is notably high for the region, there is potential for increased demand in housing as more people move to Florenceville-Bristol. This influx suggests that both residential properties such as single-family homes and investment properties like apartment buildings could benefit investors in the near to mid-term. The steady appreciation rates for both houses and apartments imply that real estate investments made now could yield favorable returns due to the combination of capital appreciation and rental income potential as the population continues to climb.
Future Market Outlook
The future outlook for the Florenceville-Bristol real estate market appears promising based on current trends and demographic data. The continued population growth will likely propel demand for housing, supporting both house values and rental market opportunities. Given the modest yet consistent appreciation rates for houses and apartments, the market seems poised for continued growth without showing signs of overheating. Investors looking to capitalize on long-term gains should consider this stability an encouraging sign when making their investment decisions.
