Clementsvale, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Clementsvale, Nova Scotia
The real estate market in Clementsvale, Nova Scotia, is currently experiencing steady growth. With a median house price of $500,000 and an annual appreciation trend of 3.5%, the market indicates a healthy demand for single-family homes. Apartments are also showing positive growth, albeit at a slower pace, with a median price of $300,000 and a year-over-year increase of 2.1%. This suggests a diversified interest in different types of residential properties.
Population growth stands at 7.1% for the region, which is relatively high and can be correlated with the increasing demand for housing. The influx of new residents may be due to attractive job opportunities, lifestyle preferences, or other socio-economic factors that make Clementsvale an appealing place to live.
Investment Opportunities and Potential
Investors looking at Clementsvale will find potential in both the house and apartment markets. The consistent rise in property values indicates room for capital gains over time. Single-family homes present a more significant investment opportunity given their higher price appreciation rate. However, apartments shouldn’t be overlooked as they offer lower entry points for investment and could cater to the rental market driven by individuals or small families seeking affordable housing options.
Given the population growth, rental demand is likely to increase, providing investors with potential rental income streams alongside property value appreciation. Additionally, the robust population growth rate could signal future developments in infrastructure and services that may further enhance property values.
Future Market Outlook
The future real estate market outlook for Clementsvale appears optimistic based on current trends and data. Continued population growth is likely to sustain demand for housing which should support steady increases in property values. Assuming economic conditions remain favorable and interest rates stable, we can expect both the house and apartment markets to maintain their upward trajectories.
However, investors should keep an eye on external economic factors such as employment rates, migration patterns, and government policies that could impact the real estate market’s performance. Diversifying investments between houses and apartments could mitigate risks associated with market fluctuations while capitalizing on different segments of the market.
In conclusion, Clementsvale’s real estate market presents promising opportunities for investors looking for growth potential but requires careful consideration of broader economic indicators to make informed decisions.
