Churchville, 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 Churchville, Nova Scotia, is currently experiencing a state of gradual growth. The median house price stands at $500,000, reflecting a moderate year-over-year increase of 3.5%. This suggests a steady market with consistent buyer interest and a balanced supply-demand dynamic. Similarly, the median apartment price has reached $300,000 with a slower growth rate of 2.1% year-over-year, indicating that the apartment sector is also expanding but at a more tempered pace.
The population of Churchville has recently seen a notable rise, growing by 7.1% to reach 15,000 residents. This uptick in population is likely contributing to sustained demand in the housing market and could be driving some of the observed price increases.
Investment Opportunities and Potential
Given the positive growth trends in both the housing and apartment markets, Churchville presents potential investment opportunities for those considering entering the real estate space or expanding their portfolios. The consistent increase in property values suggests that investments made now could benefit from continued appreciation in the medium to long term.
The significant population growth indicates an increasing need for housing and may signal opportunities for development projects to meet this demand. Investors might explore various avenues such as purchasing rental properties, engaging in new construction, or renovating existing structures to cater to varied market segments including first-time homebuyers, downsizers, or renters.
Future Market Outlook
The future outlook for Churchville’s real estate market appears cautiously optimistic. If current trends persist, one can expect further steady growth in property values driven by demographic factors such as population increase and sustained economic conditions. However, investors should remain mindful of broader economic variables that could impact interest rates and borrowing costs which may affect affordability and potentially cool down the market growth.
Continued monitoring of local development plans and infrastructure investments will be essential as these factors could significantly influence real estate dynamics in Churchville. Projections would need to be adjusted accordingly to cater for any major changes that improve accessibility or amenity availability within the region. Ultimately, strategic investments aligned with careful trend analysis could yield favorable outcomes in this evolving market.