Clarence, 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 Clarence, Nova Scotia is currently experiencing stable growth. The median house price stands at $500,000, witnessing a year-over-year increase of 3.5%. This indicates a healthy demand for single-family homes in the area, likely driven by both local buyers and external investors seeking residential properties.
In contrast, the apartment sector shows a slower pace with the median apartment price at $300,000 and an appreciation trend of 2.1% year-over-year. The less robust growth in this segment suggests that the market may be more favorable for those looking to purchase houses rather than apartments.
The population of Clarence has reached 15,000, with a significant population growth of 7.1%. This demographic expansion can be seen as a contributing factor to the sustained real estate demand and is likely to continue bolstering property values in the foreseeable future.
Investment Opportunities and Potential
The current trends indicate promising investment opportunities in Clarence’s real estate market. The consistent increase in property values coupled with substantial population growth provides a fertile ground for real estate investments. Single-family homes represent a particularly attractive option given their higher appreciation rate.
Investors should also consider the potential for rental properties, as the growing population may lead to increased demand for rental units. The slower appreciation rate of apartments could offer investors an entry point into the market at a lower price point, with the prospect of long-term capital gains.
Future Market Outlook
The outlook for Clarence’s real estate market remains optimistic. Continued population growth is expected to drive ongoing demand for housing. Assuming current economic conditions persist, the market is likely to maintain its upward trajectory in both housing prices and investment returns.
However, investors are advised to stay informed about any changes in local economic indicators or policy shifts that could affect market dynamics. Monitoring interest rates, employment trends, and infrastructure developments will be crucial for making informed decisions in this active market.