Riverport, 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
1. Current Market Conditions and Trends
In Riverport, Nova Scotia, the real estate market is currently experiencing steady growth. The median house price is $500,000, with a year-over-year increase of 3.5%. This consistent appreciation indicates a healthy demand for housing in the area. Similarly, the median apartment price stands at $300,000, following a 2.1% year-over-year trend upwards.
The population of Riverport has shown significant growth, with an increase of 7.1%, bringing the total to approximately 15,000 residents. This demographic change suggests an expanding market with increased demand for housing—both rental and ownership—which could continue to drive property values upward.
2. Investment Opportunities and Potential
Riverport’s real estate market presents promising investment opportunities. The combination of rising population and property values indicates a robust potential for both short-term gains through property flipping and long-term investment through rental properties.
The steady growth in house prices suggests that investing in residential properties could yield favorable returns as the market continues to expand. Moreover, the slower but consistent rise in apartment prices can appeal to investors looking at the more affordable segment of the market or those interested in purchasing units to rent out amidst an expanding population.
3. Future Market Outlook
The outlook for Riverport’s real estate market is optimistic based on current trends and demographic data. The continued population growth is likely to sustain demand for housing, which may lead to further increases in property values. Both the residential and apartment sectors have shown resilience with steady appreciation rates.
Investors and homebuyers can be cautiously optimistic about the future prospects of Riverport’s market. Assuming economic conditions remain stable and the influx of new residents continues, the real estate market in Riverport should maintain its upward trajectory, making it an attractive location for investment and living.
