Riverview, 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
Current Market Conditions and Trends
The real estate market in Riverview, Nova Scotia is currently experiencing a steady growth. The median house price stands at $500,000, which marks a year-over-year increase of 3.5%. This indicates a growing market, but the moderate rate of increase suggests that it is not overheating. On the other hand, the median apartment price is slightly lower at $300,000, with a smaller year-over-year growth of 2.1%. This slower growth rate for apartments might reflect a more balanced demand for this type of property in Riverview.
Investment Opportunities and Potential
Riverview’s real estate market offers attractive investment opportunities, particularly in the housing sector. With a healthy population growth of 7.1%, there is potential for increased demand for housing. The current population stands at 15,000, and if this trend continues, investors can expect a steady appreciation in property values over time. Single-family homes seem poised for stronger capital gains due to their higher growth rate compared to apartments. However, apartments shouldn’t be overlooked as they provide an affordable entry point into the real estate market and may appeal to smaller households or those seeking lower-maintenance living.
Future Market Outlook
The future outlook for Riverview’s real estate market appears promising. Given the solid population increase and consistent property value appreciation, it is expected that both housing and apartment markets will continue to expand at a sustainable pace. Although no dramatic spikes in prices are anticipated in the near term, the data suggests that Riverview will maintain its trajectory as an appealing location for both homeowners and investors seeking stable growth. It is advisable for stakeholders to monitor infrastructure developments and employment rates as these factors could influence future market dynamics.
