Mavillette, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 3.2% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $385,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $605,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $345,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Mavillette, Nova Scotia, currently exhibits a stable growth pattern. With a median house price of $495,000 and a year-over-year increase of 3.2%, the market is showing healthy appreciation rates that are reflective of a balanced market. Similarly, the median apartment price stands at $295,000, having risen by 2.5% over the same period. These trends indicate a consistent demand for housing in the area.
The population in Mavillette has experienced a growth rate of 3.3%, suggesting an uptick in demand for local real estate as more individuals and families choose to settle in the region. This demographic trend often correlates with increased real estate activity and can support sustained property value appreciation.
Investment Opportunities and Potential
For investors considering Mavillette’s real estate market, there are several opportunities worth noting. The steady increase in property values coupled with population growth suggests that there is potential for both long-term capital gains and rental income streams. Investment in residential properties appears promising due to low volatility and steady appreciation.
The current trends also point towards a growing market for apartment dwellings, which may be particularly attractive to investors targeting the rental sector. Given the moderate price appreciation rate for apartments, entry into this segment of the market could be advantageous before prices potentially accelerate further.
Future Market Outlook
The future outlook for Mavillette’s real estate market remains optimistic based on current data and trends. Continued population growth is likely to underpin demand for housing, sustaining both property value increases and rental market strength. Furthermore, given that the current appreciation rates are moderate, there is less risk of a sudden market correction or bubble, pointing towards sustainable growth ahead.
Investors should monitor key economic indicators within the region such as employment rates, infrastructure developments, and any changes in local policies that could affect the real estate market. Vigilance combined with the current positive trends suggests that Mavillette will continue to be an attractive location for both real estate investment and homeownership in the foreseeable future.
