Kennetcook, 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 Kennetcook, Nova Scotia, is currently experiencing steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing signs of healthy demand. Similarly, the median apartment price stands at $300,000, with a more modest annual appreciation of 2.1%. This growth can be partially attributed to the town’s population surge, which has seen a 7.1% increase. The rising population can lead to increased demand for housing, both in purchase and rental segments.
Investment Opportunities and Potential
For investors looking at Kennetcook’s real estate market, there are several factors to consider. The consistent rise in property values indicates a stable investment environment with potential for capital gains over time. Investment in houses appears particularly promising due to the higher rate of price appreciation compared to apartments. However, apartments might appeal to investors aiming for rental income, especially considering the significant population growth that may drive rental demand. Furthermore, with population numbers on the rise, new development projects could emerge as lucrative opportunities for both residential and commercial real estate investors.
Future Market Outlook
The future outlook for Kennetcook’s real estate market appears optimistic. Assuming the continuation of current trends—such as population growth and economic stability—the demand for housing is likely to remain strong. The persistent upward trajectory in median home prices suggests that purchasing real estate now could yield favorable returns in the long term. However, potential investors should also keep an eye on broader economic indicators and regional development plans that could impact property values and rental markets.