Cheverie, 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 in Cheverie, Nova Scotia
The real estate market in Cheverie, Nova Scotia, is currently characterized by steady growth. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This increment is indicative of a healthy demand and shows that the market is experiencing consistent appreciation. Similarly, the median apartment price has reached $300,000 with a more modest year-over-year growth of 2.1%. This slower rate of increase for apartments suggests a market that is slightly less competitive than that for houses, potentially due to differing demand dynamics or a higher supply of apartment units.
Contributing to the province’s real estate vibrancy is its population growth rate of 7.1%, which is significantly higher than the national average. This influx of residents is likely creating upward pressure on property values as housing demand strengthens.
Investment Opportunities and Potential in Cheverie
Given the current market trends, investment opportunities in Cheverie appear promising. The continuous growth in median house prices implies that investing in residential properties could yield favorable returns over time. The stable increase in apartment prices also presents an opportunity for investors looking for lower entry points into the real estate market.
Moreover, with the robust population growth, there is potential for increased rental demand, which could benefit investors looking to engage in the rental market. As newcomers seek accommodation, both long-term investments in rental properties and short-term vacation rentals might see a surge in profitability given Cheverie’s scenic appeal and desirability as a living destination.
Future Market Outlook for Cheverie Real Estate
The future outlook for Cheverie’s real estate market remains optimistic. Assuming the current trends continue, we can expect further gradual increases in property values across both housing and apartment segments. Population growth is anticipated to remain a driving factor behind this upward trajectory as more individuals and families settle in the region.
The sustained increase in property prices indicates that Cheverie will maintain its appeal as an investment location for both residential purchasers and real estate investors. As long as economic conditions remain stable and the area continues to attract new residents through its amenities and quality of life, the housing market should maintain its positive momentum. Investors and potential homeowners are encouraged to monitor key economic indicators closely, including interest rates and employment figures, which can affect affordability and influence future property market developments.
Careful analysis of specific neighborhoods within Cheverie could uncover varying levels of investment potential. As always, due diligence is recommended when considering real estate transactions to identify areas with the highest expected returns based on factors such as local development plans, infrastructure improvements, and community services.