Eatonville, 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
The real estate market in Eatonville, Nova Scotia, is currently experiencing a period of steady growth. With a median house price of $500,000 and an annual appreciation rate of 3.5%, the market demonstrates continued strength and stability. The apartment sector is also showing positive momentum, with a median price of $300,000 and a year-over-year increase of 2.1%. This growth trajectory is supported by a robust population increase of 7.1%, suggesting a healthy demand for housing in the area.
Investment Opportunities and Potential
Eatonville presents attractive investment opportunities for both residential property investors and developers. The steady rise in housing prices indicates a seller’s market where property values are expected to continue their upward trend. Investors purchasing residential properties at the median price points can anticipate capital gains in the long term based on these trends.
Given the significant population growth, there is potential for rental property investments as well. Landlords may benefit from favorable rental yields as demand for housing options increases among new residents. Additionally, with an expanding population base, Eatonville could become a prime location for new construction projects, providing opportunities for development firms interested in suburban expansion.
Future Market Outlook
The future real estate market outlook for Eatonville appears optimistic. Population growth is often a precursor to increased demand for housing, which can lead to higher property values over time. If current trends persist, the median house and apartment prices are likely to see sustained growth, making Eatonville an appealing market for both short-term investors looking to flip properties and long-term investors focused on rental income or value appreciation.
However, potential investors should be mindful of broader economic conditions that could affect interest rates and borrowing costs, which in turn could influence buyer activity and market dynamics. Careful analysis of local economic indicators and monitoring of national real estate trends should inform any investment decisions in the Eatonville area.
