Eureka, 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 Eureka, Nova Scotia is currently experiencing a period of moderate growth, with the median house price sitting at $500,000. This represents a 3.5% year-over-year increase, indicating a steady upward trend in property values. The market for apartments is also showing positive momentum, albeit at a slightly slower pace, with the median apartment price reaching $300,000 and a year-over-year trend of 2.1%. The population of Eureka stands at 15,000 and has seen a significant rise of 7.1%, suggesting increased housing demand which may contribute to the continuing appreciation of property values.
Investment Opportunities and Potential
The investment landscape in Eureka presents attractive opportunities, particularly for those looking to capitalize on the growing housing demand driven by the robust population growth. Given the stable increment in house prices, purchasing residential properties could yield substantial long-term gains. Investors might consider investing in single-family homes or apartments which show potential for rental income and capital appreciation. Additionally, new developments or refurbishing existing properties could cater to the rising population seeking modern living spaces.
Future Market Outlook
Looking ahead, the future market outlook for Eureka’s real estate appears promising. The consistent rise in property prices coupled with ongoing population growth suggests that demand will continue to fuel the market. Assuming no significant economic disruptions occur, investors and homeowners can anticipate continued growth albeit potentially at a more tempered pace as affordability could start to weigh on market dynamics. It will be important for stakeholders to monitor interest rate movements and economic policies that may impact borrowing costs and investment appetites moving forward.
