Comeauville, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
Median price | $485,000 |
Monthly growth | 1.1% |
Quarterly trend | 3.2% |
Stock on market | 0.7% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.5% |
Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $485,000 |
4 bedrooms | $570,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $340,000 |
3 bedrooms | $425,000 |
Demographics
Current Population (2025) | 15,200 |
Previous Population (2020) | 14,500 |
Population Change | 4.8% |
Total Private Dwellings | 6,200 |
Occupied Private Dwellings | 5,800 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Comeauville, Nova Scotia, is currently experiencing steady growth. With a median house price of $485,000 representing a 3.2% increase year-over-year, the market shows signs of a stable and growing environment for homeowners. Similarly, the median apartment price stands at $295,000, which has risen by 2.5% from the previous year. These trends indicate a consistent appreciation in property values within the area.
The population of Comeauville has also grown by 4.8% to 15,200 residents. This increase in population suggests a rising demand for housing that could further drive up property prices and reduce vacancy rates. The combination of rising property values and an increasing population creates a dynamic market that is potentially attractive to both buyers and sellers.
Investment Opportunities and Potential
Given the steady growth in property values and the expanding population, Comeauville presents several investment opportunities. Investors looking to enter the residential market could benefit from the current upward trend in home prices. Moreover, with a higher demand for living space driven by population growth, rental properties may offer substantial income potential for investors seeking long-term returns.
The relatively moderate increase in apartment prices suggests that there is still room for growth, providing an opportunity for investors to purchase at a lower entry point compared to houses. This could be particularly appealing for those looking to invest in multi-family units or develop new apartment complexes to meet the housing needs of the growing community.
Future Market Outlook
The future outlook for Comeauville’s real estate market appears optimistic. As population numbers continue to rise, it is expected that demand for both homes and apartments will remain robust. If current trends persist, property values are likely to continue their gradual ascent, offering potential capital gains for long-term investors.
However, it’s important for investors and prospective buyers to monitor factors such as local economic conditions, interest rates, and national housing policies that could impact market dynamics. Staying informed on these elements will be crucial for making well-informed decisions regarding real estate investments in Comeauville.
In summary, Comeauville’s real estate market is characterized by measured growth and expanding opportunities for investors. With careful analysis and strategic investment choices, stakeholders can potentially reap significant benefits from this burgeoning market.