Beechville, 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 Beechville, Nova Scotia is currently exhibiting stable growth. With a median house price of $500,000 and an increasing trend of 3.5% year-over-year, the market is showing signs of steady appreciation. The apartment sector is also experiencing growth, though at a slightly lower rate, with the median apartment price standing at $300,000 and a trend of 2.1% year-over-year growth.
Beechville’s population has reached 15,000 with a significant growth rate of 7.1%, which suggests a strengthening local economy and an increasing demand for housing. This population influx is likely contributing to the sustained property value increases and the healthy demand in the housing market.
Investment Opportunities and Potential
Given the positive trends in both the housing and apartment markets, Beechville presents attractive investment opportunities. The consistent rise in property values indicates that investing in residential real estate could yield profitable returns. Additionally, the robust population growth points to a growing rental market that investors can capitalize on, especially in the apartment sector.
The current median prices suggest that there is potential for entry-level investments in apartments as well as more substantial investments in houses. Considering the steady year-over-year increases in property values, early investors are likely to benefit from continued appreciation over time.
Future Market Outlook
The future market outlook for Beechville appears promising based on current indicators. The ongoing population growth is expected to maintain or possibly increase housing demand, potentially leading to further price escalations. Assuming no major economic setbacks occur, Beechville’s real estate market should continue on its upward trajectory.
In light of these conditions, investors and homeowners alike may find confidence in entering or remaining active within Beechville’s real estate sector. Continual monitoring of economic factors and demographic trends will be crucial for making informed decisions moving forward.
