Evanston, 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
In Evanston, Nova Scotia, the real estate market is experiencing a period of steady growth. The median house price in the area is currently at $500,000, with a year-over-year increase of 3.5%. This suggests a healthy demand for housing that is slightly outpacing inflation, indicating a stable market with consistent buyer interest.
Similarly, the apartment sector shows growth with the median price for an apartment sitting at $300,000, which has increased by 2.1% over the past year. The slightly lower increase rate compared to houses may reflect a more competitive or saturated market for apartments or could indicate that buyers have a stronger preference for detached homes.
The population of Evanston stands at 15,000, having grown by 7.1% recently. This above-average population growth is likely contributing to the demand for housing in the area and might be driven by factors such as employment opportunities, lifestyle amenities, or regional investment.
Investment Opportunities and Potential
Evanston’s growing population and increasing property values present clear opportunities for real estate investors. The steady appreciation in house and apartment prices suggests that investments made now could yield positive returns through both capital gains and rental income as demand for housing continues to grow alongside the population.
Investors could capitalize on this trend by purchasing residential properties to rent out, or by engaging in real estate development projects aimed at meeting the burgeoning demand. Given the current trends, there may also be potential in flipping properties after value-adding renovations, particularly in sought-after neighborhoods.
Future Market Outlook
The future market outlook for Evanston remains optimistic given the solid foundation of existing trends. If the current population growth rate sustains alongside economic stability, it is reasonable to expect that both house and apartment prices may continue to see incremental increases.
However, investors should remain aware of broader economic conditions and local developments that could impact these projections. Factors such as changes in interest rates, housing policies, and regional economic performance must be monitored closely to make informed investment decisions.
In conclusion, Evanston’s real estate market is characterized by consistent growth and presents several attractive opportunities for investment. Careful consideration of future developments will be key in maximizing potential returns in this active market.
