Petitdegrat, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $510,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $305,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.4% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $510,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 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 Petitdegrat, Nova Scotia is currently experiencing a period of steady growth. The median house price stands at $510,000, reflecting a year-over-year increase of 4.2%. This indicates sustained demand and a healthy market, with prices growing at a moderate pace. Similarly, the median apartment price has reached $305,000, with a more modest annual growth of 2.4%. These trends suggest that the market is balancing affordability with increasing property values.
The area’s population has also seen significant growth, with an increase of 3.3%, bringing the total population to approximately 15,500 residents. This demographic shift suggests that Petitdegrat is attracting new residents, potentially due to employment opportunities, lifestyle offerings, or other regional attractions.
Investment Opportunities and Potential
Given the steady increase in property values and population growth, Petitdegrat presents attractive opportunities for real estate investors. The moderate yet consistent appreciation in house prices demonstrates potential for long-term capital gains for those investing in residential properties. Moreover, the increasing population may lead to higher demand for rental properties, benefiting landlords and property managers.
Investors should also consider diversifying their portfolio by investing in apartments due to their lower entry price point and the stable growth trend observed in apartment prices. With a 2.4% annual price increase, apartments offer a more accessible investment option with the potential for solid rental yields and occupancy rates.
Future Market Outlook
The future outlook for Petitdegrat’s real estate market appears promising. Current trends suggest continued growth in property values driven by demographic shifts and sustained demand. Assuming these trends persist, investors can expect a favorable climate for both immediate income through rentals and long-term asset appreciation.
However, potential investors should monitor external economic factors that could impact the market such as changes in interest rates, employment rates in the region, and any significant policy changes affecting property ownership or landlord-tenant laws. Staying informed on local developments will be crucial for making sound investment decisions moving forward.
