Dennisweston, 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 (2024) | 15,000 |
| Previous Population (2019) | 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
The real estate market in Dennisweston, New Brunswick is currently experiencing a period of moderate growth. The median house price in the area stands at $500,000, with a year-over-year increase of 3.5%. This suggests a stable and growing market for single-family homes. Similarly, the median apartment price is $300,000, which has seen a slightly lower year-over-year growth rate of 2.1%. The steady rise in property values indicates healthy demand and may reflect a balanced market where supply meets the buyers’ needs without causing an overheated environment.
The population of Dennisweston has grown by 7.1% to reach 15,000 residents. This growth is likely contributing to the increased demand for housing in the area, potentially leading to sustained appreciation of property values over time. However, it is also critical to monitor this trend closely as significant population increases could lead to a demand that outpaces supply and cause prices to rise more rapidly.
Investment Opportunities and Potential
Given the current market trends, Dennisweston offers promising investment opportunities. The steady increase in property values suggests that purchasing real estate in the area could yield solid returns over time. Single-family homes, with their higher appreciation rate compared to apartments, might present particularly attractive investment options.
Investors should also consider the demographic trends driving population growth as they may indicate potential rental market expansions or shifts in housing preferences. For instance, a growing population could signify an influx of younger families or professionals who are looking to rent or buy their first home, thereby creating opportunities in both rental and starter home markets.
Future Market Outlook
The future market outlook for Dennisweston appears cautiously optimistic. If current trends continue—with modest but steady increases in property values coupled with robust population growth—investors and homeowners can expect continued appreciation in their real estate assets. It’s vital for potential investors and existing property owners to remain aware of economic factors like employment rates, local industry performance, and interest rates as these will also influence the real estate market’s trajectory.
Monitoring infrastructure developments and government housing policies will also be key to understanding future dynamics within Dennisweston’s real estate market. Any new projects that improve accessibility or enhance local amenities could further stimulate market activity and attract new residents.
In conclusion, while careful consideration of broader economic signals is always recommended when assessing future prospects, current data supports a positive outlook for Dennisweston’s real estate market over the coming years.
