Churchville, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,600 |
| Population Change | 4.1% |
| 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 Churchville, Nova Scotia is currently experiencing steady growth. The median house price stands at $495,000, marking a year-over-year increase of 4%. This indicates a healthy appreciation in property values and suggests a stable demand for housing in the area. In contrast, the median apartment price is pegged at $310,000, with a slightly lower appreciation rate of 2.5% year-over-year. The moderate growth rate for apartments may reflect a market that is more accessible to first-time buyers and investors looking for lower entry points into the housing market.
The population of Churchville has grown to 15,200, showing a robust growth rate of 4.1%. This increase in population is likely contributing to the demand for housing and can be seen as a driver for the continued health of the real estate market.
Investment Opportunities and Potential
The current trends in Churchville’s real estate market offer promising investment opportunities. The consistent growth in house prices suggests that investing in residential properties could lead to capital gains over time. Additionally, the population growth implies an increasing demand for rental properties, which could benefit landlords and investors seeking rental income.
Given the lower appreciation rate for apartments compared to houses, there may be potential for investors to enter the market at a more affordable price point while still participating in the overall growth of the real estate sector. This diversification can appeal to both seasoned and novice investors who are looking to balance their portfolios with both high-value homes and more affordable apartment units.
Future Market Outlook
The outlook for Churchville’s real estate market remains positive. Population growth is expected to continue acting as a fundamental support for housing demand. As long as this demographic trend persists, it is reasonable to anticipate ongoing appreciation in property values.
The sustained increase in median housing prices, coupled with a strong population growth figure, signals that Churchville may experience further tightening of its real estate market. Investors and homebuyers should monitor interest rates, economic policies, and local developments closely as these factors will also influence future market conditions.
In conclusion, those considering participation in Churchville’s real estate market should expect competitive conditions but can also look forward to potential opportunities for both capital gains and rental income streams based on current trends and demographic indicators.
