Bocabec, 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 (2025) | 15,000 |
Previous Population (2020) | 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 in Bocabec, New Brunswick
In Bocabec, New Brunswick, the real estate market is currently experiencing a period of moderate growth. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This steady appreciation in home values indicates a healthy demand for residential properties. Similarly, the median apartment price is currently $300,000, having risen by 2.1% over the past year. This growth rate suggests a stable investment environment for smaller residential units as well.
The population of Bocabec has reached approximately 15,000 residents and has been growing at a robust rate of 7.1%. This influx of new residents is likely contributing to the sustained demand for housing in the area. The current trends depict a favorable balance between supply and demand, which maintains a competitive market without significant overheating or cooling.
Investment Opportunities and Potential in Bocabec
Bocabec offers promising investment opportunities for both residential buyers and real estate investors. The continued population growth paired with solid price trends indicates that there is potential for ongoing appreciation in property values. Single-family homes, with a median price point of $500,000 and an appreciating trend, present an attractive option for long-term investments as well as rental properties.
Apartments are also proving to be a wise investment in Bocabec. With a more modest median price of $300,000 and a growth trend of 2.1%, they offer an accessible entry point into the real estate market for new investors or those looking to diversify their portfolio with smaller-scale investments.
Given these statistics, investors may find Bocabec’s market to be relatively low-risk with the possibility of stable returns on investment due to the consistent growth patterns observed within this region.
Future Market Outlook for Bocabec Real Estate
The future outlook for the real estate market in Bocabec remains positive. With an impressive population growth rate of 7.1%, it can be anticipated that demand for housing will continue to rise. This demographic shift is likely to fuel further property value increases and stimulate construction activity in both the residential and commercial sectors.
The consistent upward trend in house and apartment prices suggests that Bocabec will maintain its position as an attractive location for both homebuyers and investors seeking long-term capital gains. Moreover, assuming that economic conditions remain stable locally and nationally, it is reasonable to expect that the real estate market in Bocabec will continue along its current trajectory of steady growth.
Investors and potential homebuyers should keep an eye on developments within the region that could impact future market conditions such as changes in interest rates, employment rates, and infrastructure projects which could influence both short-term volatility and long-term market performance.