Dorchester, New Brunswick Real Estate Market Data
Updated: Nov 2024
House
| Median price | $505,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.8% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $505,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Dorchester, New Brunswick, is currently experiencing steady growth. With a median house price of $505,000, the market has seen an increase of 3.8% year-over-year. The median apartment price stands at $295,000, with a slightly lower growth rate of 2.5% year-over-year. These figures indicate a healthy and growing market that is attracting interest from both homeowners and investors alike.
The population of Dorchester has grown by 4.8%, which suggests an increasing demand for housing in the area. This demographic trend is likely contributing to the upward pressure on property prices and may continue to do so if the population growth sustains its current pace.
Investment Opportunities and Potential
Dorchester’s real estate market presents several investment opportunities for those looking to capitalize on the region’s growth. The steady increase in property values suggests that there is potential for capital gains over the long term. Investors might consider purchasing residential properties to rent out, as the population growth could lead to higher demand for rental accommodations.
Furthermore, with median prices for houses and apartments remaining accessible compared to larger urban centers, Dorchester may attract first-time buyers or individuals looking for more affordable housing options. This could present opportunities for developers or investors interested in creating entry-level housing units or developing new residential projects.
Future Market Outlook
The future outlook for Dorchester’s real estate market appears positive. Assuming the continuation of current trends—moderate price increases coupled with steady population growth—the market is poised for sustained health and activity. However, potential investors and homeowners should remain vigilant about broader economic factors that could influence interest rates and mortgage accessibility, potentially impacting buyer demand.
Overall, if Dorchester maintains its trajectory of growth and development, the real estate market should remain robust with ample opportunities for investment and homeowner entry. Stakeholders would be wise to monitor local developments closely, including infrastructure projects and employment rates, which could further influence the real estate landscape in this New Brunswick community.
