Fairview, 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 real estate market in Fairview, Nova Scotia is currently experiencing a period of moderate growth. The median house price stands at $500,000, which marks a year-over-year increase of 3.5%. This consistent rise in property values indicates a stable market that is attracting interest from both homebuyers and investors.
Similarly, the apartment sector demonstrates a positive trend with the median apartment price reaching $300,000, up by 2.1% from the previous year. This growth may be attributed to an influx of smaller households and professionals seeking urban living accommodations.
The local population has grown by 7.1% to approximately 15,000 residents. This demographic expansion is likely contributing to the demand for housing and supporting the gradual appreciation in property values seen across Fairview.
Investment Opportunities and Potential
Investors considering the Fairview real estate market can find potential in both the residential housing and apartment sectors. The steady growth in property prices suggests a sustainable investment environment that could yield long-term returns.
Due to the ongoing population growth, there is an opportunity to invest in new residential developments or renovate existing properties to cater to the growing demand. Apartments also present a viable investment option given their increasing prices and popularity among new residents who might be looking for more affordable or conveniently located living spaces.
Future Market Outlook
The outlook for Fairview’s real estate market remains optimistic. If current trends continue, we can expect further moderate increases in property values driven by population growth and sustained demand for housing.
The area’s economic health will play a pivotal role in shaping the future of its real estate market. Assuming stable economic conditions and continued population inflow, Fairview’s real estate sector should maintain its upward trajectory, providing attractive opportunities for both homebuyers and investors alike.
