Cheticamp, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $498,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $385,000 |
| 3 bedrooms | $498,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $345,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.4 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Cheticamp, Nova Scotia is experiencing a period of modest growth. With the median house price currently sitting at $498,000 and following a trend of a 3.2% increase year-over-year, the market is showing signs of healthy activity. This growth is slightly above inflation levels, suggesting that the housing market in Cheticamp is steadily appreciating.
The apartment sector shows a similar pattern with the median apartment price at $295,000 and a 2.5% year-over-year price trend increase. This indicates a steady demand for more affordable and smaller-scale living spaces within the region. Both the housing and apartment markets are benefiting from Cheticamp’s population growth of 3.4%, which is contributing to a sustained demand for residential properties.
Investment Opportunities and Potential
For investors considering Cheticamp’s real estate market, there are promising opportunities particularly in the housing segment, which is outpacing apartments in terms of price growth. The consistent upward trend in property values suggests that investments made now could yield appreciable returns over time as market conditions continue to improve.
Additionally, the population growth rate exceeding 3% hints at an expanding market with increasing long-term demand for housing. Investors should also consider the potential for rental properties given the need for both permanent residences and temporary accommodations for seasonal workers or tourists, which could provide a steady income stream.
Future Market Outlook
Looking forward, there are several factors that suggest a positive outlook for Cheticamp’s real estate market. Population growth is expected to drive ongoing demand for housing, while economic stability in Nova Scotia should support continued investment in residential property.
However, investors and homebuyers should remain cognizant of broader economic conditions and any local developments that may impact property values. Keeping abreast of changes in interest rates, employment figures, and regional economic policies will be essential for making informed decisions in this active market.
