Gagetown, New Brunswick Real Estate Market Data
Updated: Nov 2024
House
| Median price | $475,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.6% |
Apartment
| Median price | $290,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $475,000 |
| 4 bedrooms | $550,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $400,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Gagetown, New Brunswick
The real estate market in Gagetown, New Brunswick is currently experiencing a period of steady growth. The median house price stands at $475,000, reflecting a 2.8% increase year-over-year. This suggests a stable environment for homeowners, with equity likely increasing at a modest pace. The market for apartments is similarly experiencing growth, albeit at a slightly slower rate, with the median apartment price at $290,000 and witnessing a 1.5% increase year-over-year.
The population of Gagetown has reached 15,000 and is on an upward trajectory with a growth rate of 3.4%. This population increase is reflective of broader demographic trends that may be contributing to the demand for housing in the area, potentially putting upward pressure on prices over time.
Investment Opportunities and Potential in Gagetown
Given the current market conditions, Gagetown presents several investment opportunities. The stable growth in house prices suggests that investments in residential properties could yield sustained returns. Additionally, the growing population indicates potential for rental demand, making the purchase of apartments an attractive investment for those looking to enter the rental market or expand their portfolio.
The modest year-over-year increases in property values also suggest that Gagetown is not currently experiencing the rapid price spikes seen in some other markets, which can often lead to affordability issues and market volatility. This stability may appeal to investors who prefer lower-risk property investments.
Future Market Outlook for Gagetown
The future market outlook for Gagetown’s real estate appears cautiously optimistic. Continued population growth at a healthy rate of 3.4% will likely sustain the demand for housing, both in terms of ownership and rentals. If these demographic trends continue alongside economic development initiatives, it would not be unreasonable to expect a corresponding steady rise in property values.
However, investors should monitor local economic factors and national policy changes that could impact interest rates or borrowing conditions. As always in real estate investment, due diligence is recommended when analyzing specific properties or segments within the market.
In summary, Gagetown’s real estate market presents as a stable environment with potential for steady growth. Investors considering entry into this market should remain mindful of larger economic indicators while taking advantage of current stability and future growth prospects.
