Enfield, 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 current real estate market in Enfield, Nova Scotia, is experiencing a period of steady growth. With a median house price sitting at $500,000 and witnessing a 3.5% year-over-year increase, the market is showing signs of moderate appreciation. This suggests a healthy demand for housing that is being met with proportional supply.
In the apartment sector, the median apartment price is currently $300,000, having risen by 2.1% over the past year. The slower growth rate compared to houses indicates a slightly different dynamic in this market segment, possibly reflecting a more stable demand for multi-family living spaces or varying inventory levels.
The population of Enfield stands at 15,000 residents and has seen a substantial population growth of 7.1%, which is likely contributing to the increased demand for housing in the area.
Investment Opportunities and Potential
The ongoing population growth suggests that there will continue to be an enduring need for both rental and owner-occupied properties. Investors looking into the Enfield real estate market may find opportunities in purchasing single-family homes which are appreciating at a stable rate. Given that this type of property is experiencing higher appreciation rates than apartments, it indicates potential for capital gains over time.
Moreover, investment in apartment buildings could also be considered sound given the steady growth in value. Considering that apartments are appreciating at a slower rate than houses, investors might find these properties more accessible while still offering good prospects for long-term rental income.
Future Market Outlook
The future outlook for Enfield’s real estate market appears optimistic. The strong population growth underpins a continuing demand for housing. If this trend persists, it could lead to further pressure on housing stock, potentially pushing prices upward across both houses and apartments.
However, investors should monitor local economic trends, employment rates, and infrastructure developments as these factors can have significant impacts on property values and rental demand. Additionally, keeping an eye on national policies regarding mortgage rates and housing regulations will be important for forecasting long-term trends within the market.
In summary, Enfield’s real estate market currently shows healthy signs of growth with promising investment potential supported by robust population increases. This trend looks set to continue in the near term based on available data.