Bayside, Nova Scotia 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 (2025) | 15,000 |
| Previous Population (2020) | 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
1. Current Market Conditions and Trends
The real estate market in Bayside, Nova Scotia currently shows a healthy growth pattern. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This steady growth indicates sustained demand and a robust market environment. Similarly, the apartment sector has experienced a price increase of 2.1% over the past year with the median price reaching $300,000. The population of Bayside has risen to 15,000, marking a significant growth rate of 7.1%. This demographic trend is likely contributing to the overall housing demand and supporting the current positive trajectory in property values.
2. Investment Opportunities and Potential
Given the current trends, Bayside presents several attractive opportunities for real estate investment. The consistent appreciation in house and apartment prices suggests that investing in residential properties could yield favorable returns. Moreover, the substantial population growth points to an increasing demand for housing which can lead to higher occupancy rates for rental properties and potential for rent increases over time.
Investors should also consider the potential for new development projects to meet the growing housing demand, as well as opportunities in refurbishing existing properties to cater to changing consumer preferences. The stable year-over-year price increases imply that Bayside’s real estate market provides the potential for both short-term gains through resale and long-term income generation through rental properties.
3. Future Market Outlook
The outlook for Bayside’s real estate market remains optimistic based on current indicators. Continued population growth will likely fuel further demand for housing, potentially leading to sustained or even accelerated price appreciation in both the house and apartment sectors. As infrastructure develops and the local economy grows alongside the population, Bayside may attract additional investors and residents.
Assuming no major economic shocks or policy changes that negatively impact the housing market, investors can expect ongoing opportunities in Bayside’s real estate landscape. However, it is important for investors to conduct thorough due diligence and keep abreast of local market developments to make informed investment decisions.
