Silverwood is the cheapest address inside the City of Fredericton. It is also appreciating faster than the expensive parts of the same side of the river. Both of those things are true, and there is a straightforward reason for the discount that most listings will not mention.
This page explains it.
What it costs
The MLS® Home Price Index reports Silverwood as sub-area E1. The July 2026 benchmark was $281,800.
| Benchmark | 12 months | 3 years | 5 years | |
|---|---|---|---|---|
| Silverwood (E1) | $281,800 | +5.8% | +27.9% | +53.9% |
| Fredericton South (area) | $455,300 | +6.0% | +22.6% | +49.0% |
| Fredericton and region | $361,100 | +5.9% | +25.1% | +48.5% |
Read those two columns together. Silverwood is $173,500 below the Fredericton South benchmark, and over five years it has gained 53.9% against the area’s 49.0%. It is the cheapest entry point on this side of the river and it has been closing the gap, not widening it.
A benchmark is the modelled price of a typical home for the area, not an average of what is listed. The full table for every sub-area is on the Fredericton real estate market page.
The honest reason it is cheaper
Most of Silverwood is built on a hill that holds a lot of water, and that water drains down toward the river. It is more common here than elsewhere in the city for a house to have water in the basement, or to have had it in the past.
When it needs fixing properly, the fix is usually all-new drainage on the exterior of the foundation. In Fredericton that runs $10,000 to $20,000.
On a $281,800 benchmark, that is roughly four to seven percent of the purchase price. Which is most of the explanation for the discount right there — and it is why the discount is rational rather than alarming. The houses that have been dealt with properly do not carry that exposure. The ones that have not, do.
This is groundwater on a hillside, not river flooding. They are different risks with different insurance and financing consequences, and they get confused constantly. Flood exposure still has to be checked address by address on GeoNB, and I do that before an offer regardless of which part of the city we are in.
What I look for in a Silverwood basement
Signs the exterior work has actually been done:
- Drainage rock around the outside of the foundation
- Dimple board and blue skin on the exterior foundation wall
Signs the house has a water history:
- A lot of efflorescence — the white mineral bloom on the inside of the foundation
- A sump that is obviously newer than the house
- A dehumidifier running in October
- Storage up on pallets
- In a finished basement, previous drywall repairs — usually a cut line 12 or 24 inches up from the floor
The ones that have been dealt with properly have all the exterior work completed, plus some added insurance inside — typically a sump pump with a battery backup.
If a home has too many indicators of water intrusion potential, I will not let my clients purchase the property.
What is built there
For the most part it is the same era as Skyline Acres — 1960s to 1980s bungalows — with a good deal more newer development scattered throughout, built through the 1980s, 1990s and 2000s.
The renovation pattern matches Skyline Acres too: mostly first-time-buyer work, done incrementally over the years rather than all at once. Which means the gap between two otherwise identical listings here is often just how much of that work has been done, and how well.
There is also the Nethervue mini home park, off Woodstock Road and Springhill Road.
City services stop before Silverwood does
This is the fact I get asked about most, and it is not published anywhere.
The Silverwood Subdivision is on city water, sanitary sewer and storm sewer. The City has been renewing those mains street by street for several years now, and says the work will continue until every street in the subdivision is done.
But servicing is not universal. There are many properties on private wells and septic systems towards and on Carriage Hill Road.
So the honest answer to “is Silverwood on city services” is: the subdivision is, the corridor beyond it often is not, and it gets confirmed per property. If you are looking at something out that way, that is a question to ask before you get attached to it — a well and a septic field change your inspection list, your closing costs and your maintenance budget.
Nethervue is a different transaction
Nethervue is a mini home community on the west end, on the hill, overlooking the Saint John River. It is worth understanding what buying there involves, because it is not the same as buying a bungalow down the road:
- The lots are leased. You own the home; you rent the land it sits on, with monthly lot rent.
- It runs on the park’s own system, not city water and sewer.
- A mini home on a leased lot is generally financed as chattel rather than a conventional mortgage — different lender, different rate, different amortisation.
None of that makes it a bad buy. It makes it a different calculation, and one a lot of first-time buyers do not see coming when they are comparing a mini home price against a house price. Ask me to run both before you decide which you are actually shopping for.
In the city since 1973
Silverwood has been part of Fredericton for over fifty years. It came in with the 1973 amalgamation, alongside Nashwaaksis, Marysville, Barker’s Point and parts of Douglas and Lincoln.
That matters for one practical reason: it is not one of the areas that joined in the 2023 local governance reform, so it pays the City’s inside tax rate — $1.3086 per $100 of assessment for 2026, unchanged from 2025. On a home assessed at $282,000 that is roughly $3,690 a year before any provincial credits.
Who buys here
From my own deals: the bungalows are typically first-time buyers. The newer homes tend to go to buyers trading up within the area, and to people who want city services without being in the core. Nethervue is usually first-time buyers or downsizers.
Getting around
It is about ten minutes to uptown or downtown. It is a further drive than the established south-side neighbourhoods, and that is part of why it is cheaper. If you are weighing Silverwood against Skyline Acres or College Hill, the drive is one of the things the discount is buying.
Transit changed here in July 2025. The fixed Route 18 was replaced with on-demand service:
- Book through the Fredericton Transit app or by calling (506) 460-2212
- Same day, or up to seven days ahead
- Monday to Friday, 6:30–10:30 a.m. and 3:30–7:30 p.m.
- Pick-up and drop-off stay at the existing Route 18 stops
- No change to fares, transfers or payment
For context, the fixed route it replaced ran peak hours only at 75-minute intervals with no Saturday service. Depending on how you travel, on-demand is arguably an improvement rather than a downgrade — but if you are relying on transit, check that the window fits your day before you commit.
What the public record does not tell you
- Flood exposure is not published at neighbourhood level. Checked address by address on GeoNB.
- Boundaries. There is no official definition of where Silverwood starts and stops.
- Schools. Attendance zones are not published in a way anyone can look up. Ask the district for the specific address you are considering.
- Population and demographics. Statistics Canada does not report at this geography, so any figure you see quoted has been estimated by someone.
Thinking about buying or selling here?
Silverwood is the most affordable way into the City of Fredericton, and it rewards knowing what you are looking at. I came to real estate from residential construction, so if you want someone to walk a basement with you and tell you honestly whether the water has been dealt with or covered up, call or text (506) 261-7373 or email info@hamelrealty.com. I answer my own phone.
Where to go from here
- Fredericton neighbourhoods — how the areas compare, and which one fits.
- Skyline Acres and Southwood Park — the next step up, and a different set of trade-offs.
- College Hill — the cheapest established south-side address.
- First-time home buyers in Fredericton — down payments, incentives and what closing actually costs.
- Fredericton real estate market — benchmark prices for every sub-area, updated monthly.
