Kentville, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
Median price | $500,000 |
Monthly growth | 1.1% |
Quarterly trend | 3.4% |
Stock on market | 0.6% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.5% |
Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $450,000 |
3 bedrooms | $500,000 |
4 bedrooms | $600,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $340,000 |
3 bedrooms | $420,000 |
Demographics
Current Population (2025) | 15,000 |
Previous Population (2020) | 14,500 |
Population Change | 3.4% |
Total Private Dwellings | 6,000 |
Occupied Private Dwellings | 5,700 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Kentville, Nova Scotia
The real estate market in Kentville, Nova Scotia, is experiencing steady growth as reflected by the current median house price of $500,000, which marks a 3.4% increase year-over-year. This suggests a stable and growing demand for residential properties within the region. Similarly, the median apartment price stands at $295,000 with a positive trend of 2.5% year-over-year, indicating that smaller residential units are also appreciating albeit at a slightly slower pace than houses.
The population of Kentville has reached approximately 15,000 residents, with a significant growth rate of 3.4%. This demographic expansion is contributing to the uptick in housing demand and can be correlated with the healthy property price appreciation currently observed. The moderate yet consistent price increases across both housing segments point to a balanced market where supply and demand are well-aligned.
Investment Opportunities and Potential in Kentville
Considering the current trends, Kentville offers promising investment opportunities particularly in the residential sector. The consistent increase in property values coupled with the town’s population growth suggests that demand for housing will continue to rise. Investment in single-family homes could yield solid returns given the year-over-year increase in median house prices.
Apartments present an opportunity for investors looking for lower entry points into the real estate market or those aiming to cater to individuals and small families who may prefer more affordable or smaller-scale living options. With a 2.5% annual increase in apartment prices, this segment presents a more conservative yet stable investment potential.
Future Market Outlook for Kentville Real Estate
The future outlook for Kentville’s real estate market appears optimistic. The town’s steady population growth is likely to maintain its course or even accelerate due to various factors such as lifestyle preferences leaning towards smaller communities and potential regional economic developments. This demographic trend should continue to bolster the demand for housing.
Given the historical data and current trends, we can reasonably anticipate continued modest appreciation in property values across both houses and apartments. The sustained increase in median prices suggests that investments made today have good prospects for capital gains over time. However, it is crucial to monitor local development plans and broader economic conditions as they can influence future market dynamics.
In summary, Kentville’s real estate market demonstrates strong fundamentals with progressive growth indicators that appeal to both homeowners and investors alike. As long as the population continues on its upward trajectory and economic conditions remain favorable, Kentville’s housing market is poised for sustained growth over the medium to long term.