Creignish, 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 Creignish, Nova Scotia, is currently showing steady growth. With a median house price at $500,000 and an appreciable year-over-year increase of 3.5%, the market appears to be on an upward trajectory. Similarly, the median apartment price stands at $300,000, having risen by 2.1% over the past year. These trends suggest a healthy demand for property in the area.
The population of Creignish has also experienced significant growth, with an uptick of 7.1%, which may indicate increased demand for housing and a vibrant local economy that could be attracting new residents.
Investment Opportunities and Potential
The positive trends in both housing prices and population growth present numerous investment opportunities. The steady rise in property values suggests that purchasing real estate in Creignish could yield substantial returns over time. Given the population increase, there is potential for both rental and sale markets.
In particular, investors might consider targeting the apartment sector due to its slightly lower year-over-year price increase compared to houses, which may offer more affordable entry points for investment with a solid growth potential.
Future Market Outlook
The future market outlook for Creignish is optimistic. Assuming the current trends persist, the real estate market should continue to grow steadily. The population surge not only supports current property demands but also promises future requirements for housing as new residents seek accommodation.
The sustained growth in property values indicates a stable market that could benefit long-term investors. However, prospective investors should keep an eye on economic indicators and local developments that could influence these trends, such as employment rates and infrastructure projects.
To conclude, Creignish offers a compelling market for both residential living and real estate investment with its growing population and ascending property values. As always, individuals should perform their due diligence and consider consulting with a real estate professional before making significant investment decisions.
