Cornwallis, 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
In Cornwallis, Nova Scotia, the real estate market is currently experiencing a stable growth pattern. The median house price stands at $500,000, which reflects a year-over-year increase of 3.5%. This steady rise in house prices suggests that the market is healthy and that demand for housing is consistent. Similarly, apartments in Cornwallis are showing a positive trend, with the median apartment price reaching $300,000 and a year-over-year increase of 2.1%.
The population of Cornwallis has grown to 15,000 residents, with an impressive growth rate of 7.1%. This population surge is likely contributing to the increased demand for housing, thereby supporting the real estate market’s upward trajectory.
Investment Opportunities and Potential
For investors looking to enter the Cornwallis real estate market, there are promising opportunities to be considered. The consistent growth in property values coupled with a robust population increase indicates that both residential and rental properties have strong potential for capital appreciation and stable rental income.
The single-family home sector could be particularly appealing due to the significant median price increase. Investors may find that acquiring properties in this category offers good long-term growth prospects as the community continues to expand. Similarly, apartments present a more accessible entry point for investors, with their lower median price and steady appreciation suggesting opportunities for both rental yield and capital gains.
Future Market Outlook
The future outlook for the Cornwallis real estate market remains optimistic. The sustained population growth bodes well for continued demand in both the residential purchase and rental markets. Assuming economic conditions remain favorable and no major shifts occur in local industry or employment rates that could affect housing demand negatively, it is reasonable to anticipate ongoing moderate price increases in line with recent trends.
As with any investment, potential risks such as changes in interest rates or unforeseen economic downturns should be taken into account. However, given current trends and data points, Cornwallis presents itself as a market with solid prospects for those looking to invest in Canadian real estate.
