Bayswater, 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 Bayswater, Nova Scotia is currently experiencing healthy growth. With a median house price of $500,000 and a year-over-year appreciation of 3.5%, the market demonstrates a stable upward trend. The growth in the housing sector is slightly more robust than in the apartment sector, which has a median price of $300,000 and is appreciating at a rate of 2.1% year-over-year.
The population of Bayswater has seen significant growth at a rate of 7.1%, totaling around 15,000 residents. This demographic expansion is contributing to increased demand for housing in the area, thus supporting the current price trends and overall market health.
2. Investment Opportunities and Potential
The current market conditions suggest that Bayswater offers promising investment opportunities for both residential property investors and developers. The steady increase in property values indicates a strong potential for capital gains over time. Investors looking to acquire properties for rental purposes will likely benefit from the growing population, which could translate into sustained demand for rental units.
Growth in the housing market surpasses that of the apartment sector; however, both show positive trends making them viable options for diversification within real estate portfolios. Additionally, with an ongoing population increase, there may be opportunities for new development projects to cater to the influx of residents seeking accommodation.
3. Future Market Outlook
The future outlook for Bayswater’s real estate market appears optimistic given the solid foundation of continuous population growth and consistent appreciation in property values. Assuming these trends persist, investors can reasonably expect continued gradual growth in both housing prices and rental demand.
The key to maximizing investment potential will be monitoring any changes in local economic drivers that may affect population growth or employment rates, as these factors could impact overall market performance. Nonetheless, current data points towards a stable and growing market environment for Bayswater over the upcoming years.
