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 (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 Bayswater, Nova Scotia, is experiencing a period of modest growth. Current data indicates that the median house price in the region stands at $500,000, with a year-over-year increase of 3.5%. This consistent uptrend suggests a stable market that is attracting homebuyers and retaining its value over time.
In comparison, the apartment sector shows a median price point of $300,000 and is following a slower, yet positive growth trend at 2.1% year-over-year. The differing pace between housing types may reflect varying demand dynamics, potentially influenced by demographic preferences or investment patterns within the region.
The population of Bayswater has reached 15,000 residents, with a robust growth rate of 7.1%. This demographic expansion is a key driver for housing demand and could be contributing to the steady price appreciation observed in the local real estate market.
Investment Opportunities and Potential
Given the sustained growth in both property values and population, Bayswater presents attractive investment opportunities. Single-family homes are particularly notable for their stronger capital appreciation at 3.5%, which could appeal to investors looking for assets that may offer better long-term growth potential.
Apartments offer a lower entry point into the market at $300,000 and may be well-suited for investors aiming for rental income in a growing community. The slower appreciation rate still indicates potential for asset value increase while potentially providing steady cash flow.
The underlying population growth rate bolsters the case for investment as it suggests an increasing need for housing. Investors should consider how this demographic trend might affect rental markets and property values in both the immediate and longer-term future.
Future Market Outlook
The Bayswater real estate market outlook appears promising based on current trends. The steady increase in median house prices coupled with solid population growth indicates that demand for housing is likely to persist.
Assuming that economic conditions remain favorable and that Bayswater continues to attract new residents due to its amenities, employment opportunities, or lifestyle benefits, the real estate market should maintain its positive trajectory. Investors and homebuyers alike can view these indicators as signs of a healthy market with ongoing potential for capital gains and return on investment.
Careful monitoring of economic factors such as interest rates, employment levels, and regional development initiatives will be essential to accurately project future trends. However, given current data points and regional characteristics, prospects for the Bayswater real estate market look auspicious over the coming years.
