Hampton, 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 Hampton, New Brunswick is experiencing a period of steady growth. With a median house price currently sitting at $500,000, the market has seen a year-over-year increase of 3.5%. This indicates a healthy demand for housing in the area, which can be attributed to both local economic stability and an influx of new residents.
The market for apartments is also showing positive trends with the median apartment price at $300,000, which has risen by 2.1% over the past year. The moderate price growth for apartments suggests a balanced market that caters well to both investors and renters seeking affordable housing options.
With a population of 15,000 and a robust population growth rate of 7.1%, Hampton is becoming increasingly attractive to individuals and families looking for community-oriented living outside of larger urban centers.
Investment Opportunities and Potential
The consistent rise in property values in Hampton points towards auspicious investment opportunities. The increasing median house prices imply that investments made in the residential sector have the potential for capital appreciation. The growing population, alongside an incrementing housing demand, provides investors with an opportunity to engage in buy-and-hold strategies that capitalize on long-term price increases.
Besides capital gains, rental properties are likely to yield attractive returns due to the expanding population looking for housing. The 2.1% growth in apartment prices suggests that there is room for rental income growth without pricing out potential renters, which could assure investors of sustained occupancy rates.
In terms of development, the demographic expansion offers prospects for new housing projects and subdivisions that can meet the burgeoning housing need as well as support related industries such as retail and services.
Future Market Outlook
The future real estate market outlook for Hampton appears promising. Assuming current trends continue, sustained population growth will likely foster further demand for housing. This could perpetuate the upward trajectory of property values while ensuring that both residential and rental markets remain vigorous.
The gradual yet consistent increase in property prices reflects a stable market unlikely to experience volatile swings or overheating. As such, Hampton presents itself as an appealing locale for both first-time homebuyers aiming to establish roots in a growing community and seasoned investors looking for reliable returns on investment.
In conclusion, with prudent investment strategies and mindful attention to economic indicators, stakeholders can effectively navigate the Hampton real estate market’s evolving landscape.
