Meteghan, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $335,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| 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 in Meteghan, Nova Scotia
The real estate market in Meteghan, Nova Scotia, is currently experiencing a period of moderate growth. With a median house price of $485,000 and an upward trend of 4.2% year-over-year, the market is showing signs of healthy demand. This growth can be attributed to both local factors and broader national trends that favor suburban and rural communities, as buyers seek more space and a quieter lifestyle. On the other hand, the median apartment price stands at $295,000 with a slower growth rate of 1.9% year-over-year, indicating a more steady market for multi-family dwellings.
The population of Meteghan has grown by 4.83%, suggesting an influx of new residents which may be contributing to the demand for housing in the area. Both housing types are benefiting from this demographic shift, but single-family homes are seeing a greater increase in value compared to apartments.
Investment Opportunities and Potential in Meteghan
Investors considering the Meteghan real estate market will find potential in both the single-family home sector and the multi-family apartment sector. The stronger growth in house prices suggests that there is significant interest in this type of property, possibly driven by families looking for more space or individuals seeking lifestyle properties. The slower growth rate for apartments might make them an attractive option for those looking to invest in properties with potentially lower acquisition costs and long-term rental income opportunities.
Given Meteghan’s recent population increase, there may also be opportunities in developing new residential properties to meet the growing demand or renovating existing ones to capitalize on the increasing property values.
Future Market Outlook for Meteghan
Looking ahead, the market outlook for Meteghan appears cautiously optimistic. With continued population growth and sustained interest in less urbanized areas post-pandemic, it’s reasonable to anticipate that property values may continue to rise at a moderate pace. Furthermore, if current trends persist, both housing and apartment prices could see consistent growth over time.
However, investors and potential homeowners should remain aware of external economic factors such as interest rates and employment levels which can impact buyer affordability and influence market dynamics. Monitoring these elements will be crucial for accurately predicting future trends in the Meteghan real estate market.
In conclusion, while there is positive momentum within Meteghan’s real estate market supported by demographic trends and growing property values, careful consideration of broader economic indicators will be essential for making informed investment decisions moving forward.
