Cookville, 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 Cookville, Nova Scotia, is currently experiencing steady growth, as evidenced by the year-over-year increase in property values. The median house price stands at $500,000, reflecting a 3.5% climb from the previous year. This growth rate suggests a healthy demand for single-family homes in the area.
Similarly, the apartment market is showing positive movement with a median price point of $300,000 and an annual appreciation of 2.1%. This slower pace compared to houses indicates a slightly softer market for apartments but still points towards a stable investment environment.
The population of Cookville has grown to 15,000 residents, marking a significant increase of 7.1%. This demographic trend is likely contributing to the ongoing demand for housing and can be seen as a fundamental driver of the real estate market’s vitality.
Investment Opportunities and Potential
The steady growth in property values combined with robust population expansion positions Cookville as an attractive locale for real estate investment. Single-family homes appear to be particularly promising, given their higher year-over-year appreciation rate.
Investors should also consider the potential in the apartment sector due to its consistent growth. The burgeoning population may result in increased demand for diverse housing options, including apartments, which could lead to tighter rental markets and potential rental yield increases.
Focusing on neighborhoods with the highest demand or those poised for infrastructural developments could maximize returns. Investors are advised to monitor areas scheduled for public projects or commercial expansion which historically catalyze property value surges.
Future Market Outlook
The future outlook for Cookville’s real estate market remains optimistic. Assuming that current trends persist — moderate property appreciation and strong population growth — the market is likely to continue its upward trajectory. Economics suggest that this combination bodes well for both short-term gains through resale and long-term investment through rental income.
However, investors and homebuyers must stay informed about local economic policies that affect property ownership costs, such as changes in tax regulations or government incentives for first-time buyers which can impact market dynamics significantly.
In conclusion, Cookville presents a compelling case for real estate investment with its current positive trends and future potential. Stakeholders are advised to conduct thorough due diligence and keep abreast of regional developments to capitalize on this growing market.
