Woodstock sees real estate market increase
Published Tuesday August 19th, 2008
Broker attributes slight jump to rising gas and building supply prices
The real estate business is growing fast as more people browse the market for new homes throughout New Brunswick's First Town.
Exit Realty owner and broker Kerry Culberson of Woodstock says her business "seems busier than ever," and, although she's not complaining, she's not sure what is causing the business to be skyrocketing this quickly.
When asked about the market for different communities in the area, Culberson says she hasn't noticed any huge changes.
She says, having housing near the new hospital in Waterville makes homes in the area more desirable because they have more to offer.
"Nurses come from different places and have the nice new facilities of the hospital and homes closer to the hospital to live in."
Culberson says she has heard of people going to look at land and properties out near the hospital, but hasn't seen many promising customers.
"Not many people feel the need to move closer to the hospital," says Culberson. "They seem to be just getting used to the change."
Culberson says, when a family is looking to move, they aren't going to want to settle in place where they need to drive into town to drop kids off and then have both spouses drive longer lengths just to get to work.
She feels they would want a place that is closer to the accommodations in town.
"Unless there is more infrastructure, there probably won't be a huge increase in property values," says Culberson.
The local agent says municipal properties are generally more expensive because they are closer to malls and businesses. But, it varies depending on the type of land.
She says, although more customers seem to be coming in and looking at properties, she hasn't seen the prices change a whole lot.
"There are far too many options to look at when comparing property prices."
When families put their homes up on the market, Culberson says a very low percentage of them are planning to move out West. Others are said to be simply moving to a different area or part of town.
"I don't feel it's affecting the market at all because we've been getting busier by the day and have been right out straight," says Culberson.
Joan Phillips, RE/MAX Real Estate agent, says neighbouring communities don't seem to have busy housing markets.
"It's holding where it always has and it probably won't change anytime soon," she says.
None of the local real estate owners have noticed a great deal of development or interest for land and property in country areas.
Owner and broker of All Seasons Realty Linda Currie says, near the hospital, there has been an increase of three commercial buildings.
Unfortunately, they aren't situated that close to the hospital.
"In the potato field adjacent to the hospital, there is a potato chip company, an Irving and an unknown building," says Currie.
Currie says the prices on property outside of town, especially near the new hospital, are somewhat higher than those located in town because the land is usually larger.
"Properties in town are smaller whereas the out-of-town properties are being sold at a minimum of one acre, and they could go from anywhere between $89, 000 and $350, 000," she explains.
Currie also says she doesn't see a great deal of people selling to go out West either.
Most of her clients are couples, and, if moving out West was an option, one spouse would stay at home and work while the other goes to work out West.
When thinking about the future of the area and its property growths and values, Currie says she expects to see more commercial growth and the possibility of a hotel in the near future.
"A few people have already inquired about a hotel being built close to the hospital so that families with people admitted can stay close in case of emergencies," she says.
Currie feels Woodstock's real estate market has increased a bit.
She says it has nothing to do with the new hospital being built, but has a lot to do with the rising gas and building supply prices.
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