Comeauville, 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
The real estate market in Comeauville, Nova Scotia, is experiencing a period of steady growth. With a median house price currently sitting at $500,000, the market has seen an annual increase of 3.5%. This growth rate indicates a healthy demand for housing in the area, while still maintaining reasonable price increments that could attract a wide range of buyers.
In contrast, the median apartment price is established at $300,000, with a slightly lower year-over-year trend of 2.1%. The less aggressive price increase in the apartment sector might reflect a bigger inventory or less demand compared to houses, which presents opportunities for buyers looking for more affordable housing or rental investments.
Further supporting the strong market conditions is Comeauville’s population growth of 7.1%. This significant growth suggests that the area is attracting new residents and potentially indicates a vibrant local economy and an appealing lifestyle which can continue to spur real estate demand.
Investment Opportunities and Potential
The steady increase in property values coupled with robust population growth makes Comeauville an attractive location for investors. Given the more modest increase in apartment prices, there is potential for investment in multi-unit residential properties that can provide rental income. As the population continues to grow, there will likely be sustained or increased demand for rental units.
The current market conditions also favor developers and investors interested in residential construction. With houses appreciating at a higher rate than apartments, there seems to be a particular appetite for single-family homes that could be met by new developments.
Furthermore, existing homeowners may find this an opportune time to consider renovations or upgrades that could further enhance property values given the positive market trajectory.
Future Market Outlook
The future outlook for Comeauville’s real estate market appears optimistic. The consistent upward trend in house prices and the strong population growth are indicators of a healthy and expanding market. If these trends continue, we can expect further appreciation in property values over the coming years.
However, as with any investment, it is important to remain aware of potential economic changes or shifts in housing supply and demand which could affect market conditions. Nonetheless, if Comeauville maintains its current trajectory of growth and desirability as a residential location, the real estate market should remain robust and promising for both homeowners and investors alike.
