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 the serene community of Bocabec, New Brunswick, the real estate market has displayed steady growth. The median house price is currently valued at $500,000, with a year-over-year increase of 3.5%. This uptick indicates a healthy demand for single-family homes, which could be attributed to the area’s appeal to those looking for spacious living environments outside urban centers.
For apartments, the median price stands at $300,000, with a slightly lower growth rate of 2.1% year-over-year. This figure suggests that while there is an interest in more compact living spaces, the market for apartments is not as vigorous as that for houses.
The population of Bocabec has seen a significant rise of 7.1%, pointing towards an increasing demand for housing. A growing population often leads to a robust real estate market as new residents seek accommodation.
Investment Opportunities and Potential in Bocabec, New Brunswick
Bocabec presents attractive investment opportunities given its current market conditions. The consistent appreciation in house prices provides potential for capital gains for investors over time. Rental properties could also be a viable option due to the growing population seeking housing.
Investors might find particular value in targeting single-family homes due to their higher appreciation rate. With the current growth trends and rising demand, investing in property now could yield substantial returns as the market continues to strengthen.
Future Market Outlook for Bocabec, New Brunswick
The future real estate market outlook for Bocabec is optimistic. Assuming the continuation of current trends—such as population growth and housing demand—the local market is poised for ongoing expansion.
With single-family homes appreciating at a steady pace, they are expected to remain desirable assets. Apartments should also maintain their value as an affordable entry point into the market or rental investments, although their appreciation may progress at a more modest rate.
The influx of new residents will likely sustain pressure on available housing stock, potentially leading to increased development and investment activity in the region. Overall, Bocabec’s real estate market appears set on a positive trajectory with ample opportunities for both homeowners and investors alike.