Baddeck, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Baddeck, Nova Scotia
The real estate market in Baddeck, Nova Scotia, is currently characterized by moderate growth. With a median house price of $495,000 and an annual appreciation trend of 4%, the market is experiencing steady growth. This suggests a healthy demand for single-family homes. Similarly, the median apartment price stands at $295,000, with a slightly lower year-over-year price increase of 2.5%. This differential in growth rates may indicate a stronger preference or demand for houses over apartments in the region.
The population of Baddeck has reached 15,200 and is growing at a rate of 2.7% per year. This increase in residents is likely contributing to the demand for housing and can be seen as a positive indicator for the real estate market’s vitality.
Investment Opportunities and Potential in Baddeck
Given the stable growth in property values, investing in Baddeck’s real estate could be considered attractive for both short-term gains and long-term capital appreciation. The consistent increase in housing prices points to a robust market where investment properties may continue to appreciate. Additionally, the population growth suggests an ongoing demand for rental properties, which could benefit investors looking to enter the landlord market.
With house prices outpacing apartments in terms of growth rates, investors might find greater potential in purchasing single-family homes. However, the lower entry point for apartments combined with their steady appreciation makes them an accessible investment option with a potentially lower risk profile.
Future Market Outlook for Baddeck Real Estate
The future outlook for Baddeck’s real estate market remains optimistic. The sustained population growth should continue to provide a strong foundation for housing demand. Assuming that economic conditions remain stable and interest rates are favorable, we can expect the current trends of moderate price appreciation to persist.
However, investors and homebuyers should monitor local economic drivers like employment rates and tourism since Baddeck’s economy can significantly influence real estate dynamics. The seasonal nature of tourism could also affect short-term rental markets, offering additional opportunities for nimble investors.
In summary, with careful consideration of broader economic factors and continued monitoring of demographic trends, stakeholders can make informed decisions within the dynamic landscape of Baddeck’s real estate market.
