Bridgewater, 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 Bridgewater, Nova Scotia currently presents a stable growth environment. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is exhibiting healthy appreciation. Similarly, apartments show a positive trend with a median price of $300,000 and a growth rate of 2.1% year-over-year. These trends indicate a steady demand for housing in this region.
The population of Bridgewater stands at 15,000 residents with an impressive growth rate of 7.1%. This surge in population is likely contributing to the consistent demand for housing and could be an indicator of sustained market activity in the near future.
Investment Opportunities and Potential
The current market conditions suggest that investment opportunities in Bridgewater are promising. The steady increase in property values for both houses and apartments suggests that purchasing real estate here could be a sound investment with the potential for capital gains over time.
For investors looking at rental properties, the population growth indicates an expanding pool of potential renters. Given the upward trajectory in housing prices, rental investments have the potential to yield competitive returns as property values increase.
Furthermore, Bridgewater’s growing population may also spur developments in commercial real estate, offering diverse investment opportunities beyond residential housing.
Future Market Outlook
The future market outlook for Bridgewater appears optimistic based on current trends and data. The combination of steady price increases and significant population growth positions Bridgewater as an attractive location for both living and investing.
If these trends continue, we can expect further growth in property values which would benefit homeowners and investors alike. Additionally, as the town expands to accommodate its growing population, there could be further development of infrastructure and amenities which would enhance the livability of the area and potentially attract more residents.
However, investors should remain vigilant about factors such as interest rates changes, economic shifts, and government policies affecting real estate markets that could impact future growth expectations.
