Clare, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $290,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 15,000 |
| Population Change | 1.3% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Clare, Nova Scotia, is currently experiencing moderate growth. With a median house price of $485,000 and a year-over-year increase of 4%, the housing market is showing sustained upward trends. Similarly, apartments are also seeing a positive trend with a median price of $290,000, which represents a 2.5% rise from the previous year. This indicates a steady demand for both housing types in the area.
Clare’s population has grown by 1.3% to 15,200 residents, reflecting an uptick in demographic demand which may contribute to the continued health of the real estate market. This population growth often correlates with increased demand for housing, supporting the observed price trends.
Investment Opportunities and Potential
Investment in Clare’s real estate market holds considerable potential due to ongoing growth trends. The steady increase in property values suggests resilience and confidence in the local economy. For investors looking for long-term appreciation potential, single-family homes present an attractive opportunity given their higher year-over-year price increase compared to apartments.
Furthermore, with population growth outpacing national averages, there is an anticipated continued demand for rental properties which could benefit investors interested in purchasing apartments as income-generating assets. The slower yet consistent growth in apartment prices could provide a more accessible entry point for investment with a solid yield potential over time.
Future Market Outlook
The outlook for Clare’s real estate market remains optimistic as current trends suggest further growth. The consistent increase in median prices across both houses and apartments implies that Clare will likely maintain its trajectory of real estate appreciation. This is bolstered by the steady population increase, indicative of an expanding local economy and potentially greater consumer spending power.
It is also important to consider external economic factors such as interest rates and employment rates that could influence future market conditions. Nevertheless, if current trends persist, Clare may continue to offer robust opportunities for both homebuyers and investors alike.
