Frenchvale, 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 Frenchvale, Nova Scotia, is currently experiencing moderate growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This steady growth indicates a healthy demand for single-family homes in the area, likely fueled by the town’s increasing population, which has seen a significant growth of 7.1%.
Apartments in Frenchvale are also seeing an upward trend, with median prices at $300,000 and a year-over-year increase of 2.1%. This suggests that smaller housing units are also in demand, perhaps due to new residents looking for more affordable or temporary housing options or investors interested in rental properties.
Investment Opportunities and Potential
The investment potential in Frenchvale is promising given the steady increase in property values and population growth. For investors looking to purchase properties for long-term appreciation, single-family homes could be particularly attractive because of their higher growth rate compared to apartments.
Additionally, the rental market may offer opportunities due to the influx of residents who may seek temporary or more affordable living situations before committing to buying a home. With apartments appreciating at a slightly lower rate than houses, they can be an accessible entry point for investors looking to capitalize on the rental market’s potential.
Future Market Outlook
The future of Frenchvale’s real estate market appears positive. Given the sustained population increase and the consequent rise in housing demand, property values are expected to continue their upward trajectory. The current trends suggest that both housing and apartment markets will remain robust with steady appreciation rates.
However, potential investors should be aware of any changes to local economic conditions or shifts in national housing policies that may impact Frenchvale’s market dynamics. Monitoring these factors closely will be key for making informed investment decisions and maximizing returns in this growing community.
