Centreville, 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 Centreville, Nova Scotia is 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 housing, reflective of both local economic stability and a growing population. The median apartment price currently stands at $300,000, with a more modest growth trend of 2.1% year-over-year. These figures suggest that while the housing market is more dynamic, the apartment sector maintains steady appreciation, likely driven by first-time homebuyers and smaller households.
Investment Opportunities and Potential
The investment potential in Centreville is promising given the consistent growth in property values. For investors looking for long-term capital gains, the single-family housing market offers a sound opportunity with its 3.5% annual growth rate. Rental properties also present potential due to the rising demand for living spaces linked to population growth. The 7.1% population increase is particularly noteworthy as it not only drives demand for rental units but also suggests future infrastructural development and economic expansion which could further boost property values.
Future Market Outlook
The outlook for Centreville’s real estate market remains positive. Continued population growth at a rate of 7.1% will likely sustain demand for both housing purchases and rentals. Given current trends, property values are expected to maintain a steady upward trajectory with single-family homes leading the way. As the town adapts to its growing populace, investors should monitor new developments and zoning changes that may open up additional opportunities or affect existing property values.