Catalone, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2024) | 15,250 |
| Previous Population (2019) | 15,000 |
| Population Change | 1.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Catalone, Nova Scotia, is currently experiencing a moderate growth with the median house price sitting at CAD $485,000, which marks a 2.8% increase from the previous year. This steady growth suggests a stable market with consistent demand. Similarly, the median apartment price has risen to CAD $295,000, showing a comparable year-over-year increase of 2.5%. This indicates that both segments of the housing market are moving at a similar pace.
With a population of 15,250 and a growth rate of 1.67%, Catalone is experiencing demographic expansion that may contribute to increased demand for housing in the area. This population growth can be seen as a positive indicator for the real estate market’s stability and longevity.
Investment Opportunities and Potential
Investment opportunities within Catalone’s real estate market appear promising due to the steady appreciation in property values. The consistent increase in median prices for both houses and apartments suggests that investments made today have the potential for capital gains over time. Additionally, given the population growth, there is potential for rental properties to be in high demand, providing investors with an opportunity for stable rental income streams.
Investors should also consider the diversification of property types available in Catalone as it offers flexibility in investment strategies—whether focusing on single-family homes, multi-unit residential properties or commercial real estate developments.
Future Market Outlook
The future outlook for Catalone’s real estate market remains optimistic. The continued population growth should drive demand for housing and could put upward pressure on prices if supply does not keep pace with demand. However, investors and potential homebuyers should stay informed about local economic factors, infrastructure developments, and any changes in regional policies that could impact property values.
Keeping in mind global economic uncertainties and interest rate fluctuations that can affect mortgage rates and borrowing costs, stakeholders should remain cautious yet optimistic when considering long-term investments or property purchases in the region.
