Bedford, 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 Bedford, Nova Scotia has been displaying steady growth, in line with broader national trends. The median house price in the area is currently at $500,000, reflecting a year-over-year increase of 3.5%. This suggests a healthy demand for housing and a competitive market environment. The median apartment price stands at $300,000, with an annual appreciation trend of 2.1%. This more modest growth rate in apartment prices may indicate a segment of the market that is more accessible to first-time buyers and investors seeking rental properties.
The area’s population has experienced significant growth, reported at 7.1%, which is considerably higher than the national average. This influx of residents is likely contributing to the increased demand for housing, as well as the subsequent rise in property values.
Investment Opportunities and Potential
With population numbers on the rise and a demonstrated upward trend in property values, Bedford presents attractive investment opportunities. The consistent increase in house prices signifies potential for capital gains over time for those investing in residential properties. Furthermore, the expanding population suggests a growing rental market, which could benefit investors looking to own apartment units for rental income.
The smaller increase in apartment prices compared to houses implies there may be an untapped market potential for multi-residential investments. Given the housing demand driven by population growth, there may also be opportunities in new construction developments or renovations of existing properties to cater to both rental and sale markets.
Future Market Outlook
The outlook for Bedford’s real estate market continues to be positive based on current trends. Assuming steady economic conditions and ongoing population growth, one can anticipate continued demand for housing which should sustain property value appreciation. However, potential investors should also consider external economic factors such as interest rates, employment rates, and government housing policies that could impact market dynamics.
Furthermore, infrastructure developments and community investments can significantly influence future property values. Staying informed about such projects is crucial for long-term investment planning. Overall, Bedford’s real estate market appears poised for sustained growth, making it an attractive option for both residential buyers and real estate investors.
