Inverness, 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
In Inverness, Nova Scotia, the real estate market is currently experiencing a steady growth in prices. The median house price in the area stands at $500,000, with a year-over-year increase of 3.5%. This suggests a healthy demand for single-family homes. Meanwhile, the apartment sector is showing a more moderate growth pattern, with the median price at $300,000 and a smaller annual appreciation rate of 2.1%. Such trends are indicative of a stable market that has not been subject to rapid inflation or speculation.
Investment Opportunities and Potential
The investment landscape in Inverness offers a mix of stability and growth potential. Single-family homes represent a solid investment due to their stronger appreciation trend. Investors looking for steady appreciation might find these properties appealing, especially given the overall population growth of 7.1%. This demographic trend suggests an increasing demand for housing in the future.
Apartments offer a different value proposition with their lower entry price point at $300,000, which could be particularly attractive for first-time investors or those interested in rental income. The slower appreciation rate might appeal to those looking for more conservative growth and longer-term investments.
Future Market Outlook
The future real estate market outlook for Inverness appears optimistic. Population growth is robust at 7.1%, which is likely to continue driving demand for housing across all types. With ongoing economic development efforts in the region, this population trend may even accelerate.
The consistent growth patterns in housing prices suggest that Inverness is not experiencing an overheated market but rather one that is expanding sustainably. Investors and homebuyers can anticipate continued growth albeit at potentially varying rates between houses and apartments. However, as with any investment decision, potential buyers should monitor local economic trends and consult with real estate professionals before making significant commitments.
