Cambridge, 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 Cambridge, Nova Scotia is currently experiencing steady growth. With a median house price of $500,000 and an annual appreciation rate of 3.5%, investment in residential property has been fruitful for homeowners and investors alike. Similarly, the apartment sector is showing positive trends with a median price sitting at $300,000 and growing at 2.1% year-over-year. This growth is supported by the town’s increasing population, which has risen by 7.1% recently, indicating a robust demand for housing.
Investment Opportunities and Potential
The investment potential in Cambridge’s real estate market is significant due to the consistent increase in property values. The region’s growing population, now at approximately 15,000 residents, suggests a continuing demand for housing which could sustain or even increase the current price trends. For investors looking at long-term capital gains, purchasing residential homes could be particularly advantageous given the stronger growth rate in this segment. Rental properties also present attractive opportunities as new residents may look for temporary housing solutions before committing to homeownership.
Future Market Outlook
The outlook for Cambridge’s real estate market remains optimistic. With a healthy population growth rate of 7.1%, there is an underlying support for both the rental and purchase markets which should maintain upward pressure on property prices. Assuming current economic conditions persist, the market is poised for continued growth albeit it’s important to monitor external factors such as interest rates and employment levels that could affect affordability and demand. Looking ahead, Cambridge appears to be positioned well for sustainable real estate investment and development.
