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 (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 current real estate market in Enfield, Nova Scotia, is experiencing a stable growth period. With a median house price of $500,000 and a positive year-over-year price trend of 3.5%, the market demonstrates resilience and a steady demand. The median apartment price stands at $300,000, which has seen a slightly lower but still positive growth rate of 2.1% year-over-year.
This consistent upward trend in property values reflects the overall health of the Enfield real estate market. The local market is likely benefiting from several factors including attractive amenities, proximity to major employment centers, and a relatively affordable cost of living compared to larger urban areas.
Investment Opportunities and Potential
Investors considering Enfield for real estate opportunities should find the market appealing due to its balanced growth. The moderate but consistent increase in property values indicates that investments made in this market are likely to benefit from capital appreciation over time. Moreover, with a population growth rate of 7.1%, there is potential for increased rental demand, which may interest those looking to invest in rental properties.
The steady market conditions also suggest that Enfield could be an excellent location for both short-term renovations and flips as well as long-term buy-and-hold strategies. Given that the population is increasing at a healthy rate, new infrastructure developments and services are likely to follow, potentially boosting property values further.
Future Market Outlook
The future outlook for Enfield’s real estate market remains optimistic. Population growth is often a key driver of housing demand, and with Enfield’s significant growth rate of 7.1%, it is reasonable to expect continued demand for housing in the area. This demographic expansion suggests that there will be ongoing opportunities for both residential and commercial real estate development.
Furthermore, as more people seek out communities with a balanced lifestyle outside of crowded urban centres post-pandemic, Enfield’s appeal is likely to increase. If current trends persist or improve, investors could see sustained property value increases in the medium to long term.
In conclusion, the data suggests that Enfield represents a robust market with healthy indicators for both stability and growth, making it an attractive option for buyers and investors alike.
