Evanston, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2024) | 15,100 |
| Previous Population (2019) | 14,900 |
| Population Change | 1.3% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Evanston, Nova Scotia, currently presents a stable landscape with moderate growth. The median house price in the region is $495,000, reflecting a year-over-year increase of 3.2%. This steady uptick suggests a healthy demand for single-family homes, likely driven by the area’s appealing amenities and quality of life. In the apartment sector, the median price stands at $295,000, with a more subdued year-over-year growth of 1.9%. This lesser growth rate may indicate a larger inventory or less competitive market dynamics compared to houses.
Investment Opportunities and Potential
Evanston offers several promising investment opportunities, particularly in the housing sector. The consistent increase in median house prices suggests that purchasing residential properties could yield positive returns as the market maintains its upward trajectory. Investors might find potential in acquiring properties to cater to the growing population, which has risen by 1.34%. Rental properties could also be an attractive option given that apartments are experiencing price growth as well, albeit at a slower pace. It is important for investors to consider factors such as location within Evanston, property condition, and long-term development plans when assessing potential investments.
Future Market Outlook
The future outlook for Evanston’s real estate market appears cautiously optimistic. With a population of 15,100 and growing at a rate of 1.34%, there’s an ongoing need for housing that could continue to drive market activity. Assuming no significant economic disruptions occur, both housing and apartment prices are likely to maintain their gradual ascent. However, prospective buyers and investors should monitor economic indicators and local developments closely as these factors can influence market conditions and pricing trends over time.
