Dennisweston, New Brunswick Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $380,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $345,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Dennisweston, New Brunswick is experiencing steady growth. With a median house price of $495,000, the market has seen a 4% year-over-year increase. This indicates a healthy demand for housing and a competitive market environment. Similarly, the median apartment price stands at $295,000, with a slightly lower growth rate of 2.5% year-over-year. The stability in apartment prices suggests a consistent interest in more affordable housing options.
The population of Dennisweston has grown to 15,200 residents, boasting a growth rate of 2.7%. This population increase is likely contributing to the demand for housing and may be driving the prices upward as supply tries to keep pace with the growing need for residences.
Investment Opportunities and Potential
Given the upward trends in housing prices and population growth, Dennisweston presents promising investment opportunities. The steady appreciation in house prices suggests that purchasing residential properties could yield significant returns over time. Investors should also consider the apartment sector due to its affordability and appeal to individuals or smaller households seeking rental accommodations.
Furthermore, with the population poised to continue its growth trajectory, there is potential for new developments and expansions in both residential and commercial real estate. Investors may find value in exploring projects that cater to the increasing number of residents or those that offer niche housing solutions tailored to specific segments of the market.
Future Market Outlook
The future outlook for Dennisweston’s real estate market remains optimistic. If current trends persist, investors can expect continued growth in property values. The 4% growth rate in house prices could potentially accelerate if demand outpaces current supply levels. Similarly, apartments are likely to maintain their value or see modest increases as they present a more accessible entry point into the property market.
As long as economic conditions remain favorable and the local job market thrives, Dennisweston’s real estate market should continue to expand alongside its population. However, investors should monitor local policies and infrastructure developments as these factors could impact future market dynamics significantly.
In conclusion, Dennisweston offers attractive opportunities for both residential property buyers and real estate investors. Careful analysis of specific neighborhoods and property types will be crucial for maximizing investment returns in this growing New Brunswick community.
