Dorchester, Ontario 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 Dorchester, Ontario, is currently characterized by moderate growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the housing market is demonstrating steady appreciation. This suggests a healthy demand for homes in the area, likely driven by both local factors and broader provincial trends.
Similarly, the apartment market is also showing growth, albeit at a slightly lower rate of 2.1% year-over-year, with a median price of $300,000. This trend indicates a consistent but more modest demand for smaller living spaces or investment properties such as rental units.
The population of Dorchester has reached approximately 15,000 residents with a notable growth rate of 7.1%. This significant population increase can be influential in sustaining demand for housing in the short to medium term.
Investment Opportunities and Potential
The steady growth in property values coupled with the robust population increase positions Dorchester as an attractive location for real estate investment. The consistent appreciation in house prices points to a stable market where investors can expect continued capital gains. Rental properties are also likely to be profitable due to the increased demand driven by the growing population.
With apartments experiencing a slower rate of price appreciation, there could be opportunities for investors to enter the market at a more accessible price point. Investors may focus on this segment to cater to individuals or small families looking for affordable housing options or rental accommodations.
Future Market Outlook
The future outlook for Dorchester’s real estate market remains promising based on current trends and statistics. The continued population growth suggests that demand for housing will persist, potentially leading to further increases in property values over time.
However, investors and potential homeowners should monitor external economic factors such as interest rates, employment rates in the region, and provincial housing policies that could impact market dynamics. Assuming stable economic conditions, Dorchester’s real estate market appears poised for ongoing growth with sound investment potential.
