Dunvegan, 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 | $440,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 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 Dunvegan, Nova Scotia
The real estate market in Dunvegan, Nova Scotia, is currently experiencing moderate growth. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This indicates a stable and gradually appreciating housing market. Similarly, the apartment sector shows positive trends with a median price of $300,000 and an annual appreciation of 2.1%. These figures suggest that the market is healthy, but not overheating, which can appeal to both primary residence buyers and investors seeking sustainable long-term growth.
The population growth of 7.1% in Dunvegan is significantly contributing to housing demand. This burgeoning population likely stems from both local factors such as employment opportunities or lifestyle attractions, as well as broader provincial or national immigration trends.
Investment Opportunities and Potential in Dunvegan
Dunvegan’s real estate investment potential appears promising given the steady growth in property values and population expansion. The consistent rise in median house prices implies that investments made now could yield solid returns through capital appreciation over time. Additionally, the increasing population suggests a growing rental market, which could provide investors with opportunities for income through leasing residential properties.
For those interested in the apartment market, the slower yet steady appreciation rate of 2.1% year-over-year offers a more accessible entry point for investment and might be particularly attractive for first-time investors or those looking for lower-risk investments.
Future Market Outlook for Dunvegan
The future market outlook for Dunvegan looks optimistic based on current data trends. With persistent population growth driving demand for housing, it can be anticipated that both house and apartment prices may continue to rise at a measured pace. This suggests that the market may not experience drastic fluctuations, which bodes well for long-term stability and continued investor interest.
However, future investors and homebuyers should also consider external economic factors that could impact interest rates, employment rates, and overall affordability within the region—elements that can influence real estate markets significantly. Careful monitoring of these broader economic indicators is recommended to ensure informed decision-making in this active market.
In summary, based on current statistical trends and demographic shifts, Dunvegan presents a stable and growing real estate environment with potential for both owner-occupiers and investors seeking sustainable growth opportunities.
