Dunlop, 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 Dunlop, New Brunswick, is currently experiencing steady growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This suggests a healthy demand for detached homes in the area. Similarly, the apartment market has also seen growth, though at a more modest pace; the median apartment price is $300,000, with an annual increase of 2.1%.
Given the consistent upward trend in property values, the market appears to be resilient and growing at a sustainable rate. This is further supported by Dunlop’s population growth of 7.1%, which indicates a burgeoning community that could maintain or even increase demand for housing in the near future.
Investment Opportunities and Potential
The investment potential in Dunlop’s real estate market is promising due to both the steady appreciation of property values and the robust population growth. Purchasing property in this market could be advantageous for investors looking for long-term capital gains. The single-family home segment, with its 3.5% year-over-year price increase, presents an opportunity for investors to capitalize on higher value gains compared to apartments.
For those interested in rental properties or more affordable investment options, apartments offer a lower entry point at a median price of $300,000. Although they exhibit slower growth relative to houses, they may offer consistent rental income streams due to ongoing demand from individuals and smaller households moving into the area.
Future Market Outlook
The future outlook for Dunlop’s real estate market is optimistic. Population growth remains strong at 7.1%, suggesting sustained or increased housing demand over time. If current trends continue, both housing and apartment prices are projected to rise steadily, making real estate investments in Dunlop potentially lucrative over the long term.
However, prospective investors and homeowners should monitor local economic developments and national monetary policies that could affect interest rates and borrowing costs. Keeping an eye on these factors will be crucial in making well-informed decisions within Dunlop’s dynamic real estate landscape.
