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
Current Market Conditions and Trends
The real estate market in Berwick, Nova Scotia is exhibiting steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%. This reflects a healthy demand for single-family homes, consistent with broader provincial trends. The median apartment price stands at $300,000, experiencing a slower yet positive year-over-year growth rate of 2.1%. This difference in growth rates suggests that houses are currently more sought after in this market compared to apartments.
The continued demand can partially be attributed to Berwick’s growing population, which has expanded by 7.1%. This influx likely fuels the housing demand and contributes to the competitive nature of the real estate market in this region.
Investment Opportunities and Potential
For investors, Berwick presents several attractive opportunities. The consistent growth in house prices indicates a stable investment environment for residential properties. Given the significant population increase, rental properties may also represent a promising investment as new residents may look for temporary or rental housing before purchasing homes.
The slower growth rate in the apartment sector might suggest an opening for investors to enter the market before prices potentially align with the more robust house price trend. This could be particularly appealing for those looking to cater to individuals who prefer smaller living spaces or cannot afford higher-priced housing options.
Future Market Outlook
Looking ahead, the real estate market in Berwick is poised for continued growth. The persistent population rise suggests that demand for housing will remain strong, supporting further property value appreciation. If current trends persist, both median house and apartment prices are expected to maintain their upward trajectory.
However, investors and homebuyers should stay informed about any economic or policy changes that could impact mortgage rates, property taxes, or employment rates within the region as these factors could affect affordability and subsequently influence market dynamics.
