Coxheath, 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
As of the latest data, the real estate market in Coxheath, Nova Scotia has been experiencing steady growth. The median house price in the region sits at an approachable $500,000, marking a year-over-year increase of 3.5%. This suggests a healthy demand for housing in the area, which is likely fueled by both local factors and broader national trends.
In parallel, the median price for apartments stands at $300,000 with a slightly more modest year-over-year appreciation of 2.1%. This differential growth rate indicates a potentially stronger market for houses relative to apartments. However, both sectors show positive momentum which is a good sign for overall market health.
The population of Coxheath is on the rise as well, with a significant growth rate of 7.1%, which is above average and could be contributing to the increasing demand for residential properties. This demographic expansion is an important factor to keep an eye on as it often leads to enhanced economic activity and further real estate market development.
Investment Opportunities and Potential
Given the consistent growth in property values and population in Coxheath, investment opportunities appear favorable, especially in the residential sector. Investors might consider single-family homes due to their higher appreciation rate. The continuous increase in median house prices suggests that investing in this type of property could yield considerable capital gains over time.
Apartments present another viable investment route, particularly for those looking to tap into rental markets or seeking lower entry prices with stable growth expectations. With population figures climbing, housing demand is likely to follow suit, potentially leading to higher rental occupancy rates and yields.
New development projects could also be attractive investments as they can cater to the increasing population’s need for modern and efficient living spaces. This could be particularly appealing if these projects offer sustainable and community-oriented living options that are becoming increasingly popular.
Future Market Outlook
The future outlook for Coxheath’s real estate market is promising due to several indicators: ongoing population growth, sustained property value appreciation, and a vibrant local economy. Assuming these trends continue, we can expect further growth in property values and investment opportunities.
The area’s attractiveness may be bolstered by broader economic developments such as job creation or improvements in infrastructure which would support commuting to larger urban centers or enhance quality of life within Coxheath itself.
Investors should monitor potential changes in interest rates or economic policies that could impact borrowing costs and investment returns. Nevertheless, with current trends pointing towards a robust market environment, Coxheath presents itself as an area with solid prospects for both short-term gains and long-term investment stability.
