Gore, 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 Gore, Nova Scotia is currently experiencing steady growth. The median house price in the region stands at $500,000, which marks a 3.5% increase year-over-year. This growth rate suggests a healthy demand for single-family homes. Meanwhile, the median apartment price is $300,000, with a slower yet positive year-over-year appreciation of 2.1%. The region’s housing market appears to be robust, reflecting both a strong local economy and an appealing lifestyle that continues to attract buyers.
With a population of 15,000 residents and a notable population growth rate of 7.1%, Gore is expanding faster than many other rural communities in Nova Scotia. This demographic trend is likely contributing to the sustained demand for housing and can be seen as an early indicator of possible future price increases as supply tries to catch up with demand.
Investment Opportunities and Potential
The positive trends in Gore’s real estate market present promising opportunities for potential investors. The consistent increase in property values indicates that investments made now could yield significant returns in the long term. Single-family homes, given their higher appreciation rate, may offer particularly attractive investment potential.
Apartments also represent an opportunity for investors looking to enter the market at a lower price point or those interested in securing rental income. The steady increase in apartment prices suggests that this segment of the market is also experiencing healthy demand.
Given the area’s population growth and increasing demand for housing, developers and investors might also find value in exploring new construction projects or refurbishing existing properties to cater to the evolving needs of the community.
Future Market Outlook
The future outlook for Gore’s real estate market remains optimistic. Population growth is expected to continue as more people seek the quality of life offered by smaller communities like Gore, especially with trends favoring remote work and increased mobility post-pandemic. This demographic momentum should sustain demand for housing across all segments of the market.
If current trends hold, property values are likely to keep rising at a moderate pace, ensuring that investments made today have good prospects for appreciation over time. However, it is important for investors to monitor economic indicators and development plans within the region closely as these factors could influence future market conditions.
Overall, Gore’s real estate market offers stability combined with growth potential—a profile that may appeal to both owner-occupiers and investors alike.
