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Berwick, 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




Berwick, Nova Scotia Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Berwick, Nova Scotia is currently experiencing steady growth. With a median house price of $500,000, the market has seen an increase of 3.5% year-over-year. This indicates a healthy demand for homes in the area, coupled with a moderate appreciation in property values that could benefit homeowners looking for long-term investments.

Similarly, the apartment sector shows positive trends with a median apartment price of $300,000, which has grown by 2.1% from the previous year. This growth rate, while slightly lower than that of houses, suggests a stable market for smaller residential properties or investment units.

The current demographic trend is also influencing the real estate landscape; Berwick has a population of 15,000 with a significant growth rate of 7.1%. This burgeoning population is likely to drive further demand for housing in the region.

Investment Opportunities and Potential

Berwick presents several attractive investment opportunities. The consistent rise in property values provides investors with potential for capital gains over time. With house prices outpacing apartments in terms of growth rate, investing in detached or semi-detached properties could yield higher returns.

The town’s increasing population suggests that there will be an ongoing need for both rental and owner-occupied housing. Investors could capitalize on this opportunity by acquiring properties to cater to different market segments including families, young professionals, and retirees.

Given the stable increase in property values without any signs of overheating, Berwick represents a potentially lower-risk market for real estate investment with favorable conditions for sustainable long-term growth.

Future Market Outlook

The future outlook for Berwick’s real estate market remains optimistic. The combination of steady price increases and continuous population growth positions Berwick as an emerging hub for both residential living and investment prospects.

If current trends persist, the local real estate market is likely to maintain its upward trajectory. As more people are drawn to the area due to its amenities and lifestyle offerings, demand for housing is expected to remain strong. However, it’s important for investors and homebuyers to consider local economic factors, interest rates, and national real estate trends when making decisions.

Potential risks include economic fluctuations that can affect employment rates and purchasing power. Nevertheless, Berwick’s existing trend lines suggest that it is well-positioned to weather such challenges better than many other markets.