Fordview, 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 Fordview, Nova Scotia, is currently experiencing a positive growth trend. The median house price stands at $500,000, with an annual increase of 3.5%. This suggests a steady demand for housing in the area and indicates that the market is healthy and growing at a sustainable rate. Meanwhile, the median apartment price is $300,000, which has seen a slightly lower year-over-year increase of 2.1%. This disparity in growth rates between houses and apartments may reflect a higher demand for single-family homes.
With a population of 15,000 and a robust population growth of 7.1%, Fordview is evidently an expanding community. This demographic trend can be expected to contribute to ongoing demand for residential properties, both for ownership and rental purposes.
Investment Opportunities and Potential
Given the steady rise in property values and significant population growth, Fordview presents attractive investment opportunities. The current upward trends suggest that investing in real estate could yield favorable returns, particularly in the single-family home sector. Rental properties also offer potential due to population increase, as newcomers to the area will likely seek temporary housing solutions before purchasing homes.
The differing growth rates between house and apartment prices might indicate that now is an opportune time to invest in apartments before their value potentially increases at a faster rate. Investors should consider diversifying their portfolios across different property types to mitigate risk and capitalize on the overall market growth.
Future Market Outlook
The future outlook for Fordview’s real estate market appears promising. Population growth is typically a strong indicator of economic health and can drive housing demand upward. Should the current trends continue, investors and homeowners alike can expect to see further appreciation in property values.
However, it is essential to remain cautious and monitor external factors that could affect the market, such as changes in interest rates, economic policies, or unforeseen global events. For now, Fordview’s real estate market offers a solid foundation for investment and growth.