Cleveland, 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 Cleveland, Nova Scotia, the real estate market exhibits stable growth. The median house price in the region currently stands at $500,000, reflecting a year-over-year increase of 3.5%. This steady rise in property values is indicative of a healthy market that has been able to maintain consistent growth. Similarly, the median apartment price has also seen an appreciable increase and is presently at $300,000, with a slightly slower year-over-year trend of 2.1%.
The population of Cleveland is approximately 15,000 residents, and it has experienced a significant growth rate of 7.1%. This demographic expansion can be attributed to the area’s increasing popularity as a residential location, likely due to its appealing lifestyle offerings and economic opportunities. The growing population is a positive sign for real estate demand and suggests continued interest in the local housing market.
Investment Opportunities and Potential
Given the current market trends and demographic data, investment opportunities in Cleveland appear promising. The consistent appreciation in property values provides investors with confidence in the potential for capital gains over time. Real estate investments can take various forms here, from purchasing single-family homes to acquiring apartment units for rental purposes.
The ongoing population growth translates to increased demand for housing, which can benefit investors looking for rental income or those interested in developing new residential projects. With apartments showing a slightly lower price appreciation rate compared to houses, there may be untapped potential in this segment of the market that could provide attractive returns for investors willing to cater to this need.
Future Market Outlook
The future market outlook for Cleveland’s real estate appears optimistic. The combination of robust population growth and consistent property value increases suggests that the demand for housing will remain strong. If these trends continue, the area could see sustained or possibly accelerated growth in property prices over the coming years.
To further fuel this positive outlook, economic development initiatives or enhancements in local amenities would contribute positively to the attractiveness of Cleveland as a place to live and invest. Investors and homebuyers should monitor any such developments closely as they could significantly impact future market conditions.
It is important for stakeholders to stay informed about regional shifts, such as changes in employment rates or infrastructure projects, that could influence housing demand and real estate prices. As with any investment decision, due diligence combined with current data analysis will be key to making informed choices about entering or expanding within Cleveland’s real estate market.
