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 steady growth, as indicated by the increase in median house prices by 3.5% year-over-year, settling at approximately $500,000. This upward trend suggests a healthy demand for single-family homes in the area. Similarly, the median price of apartments has seen a rise of 2.1% year-over-year, indicating a stable and growing interest in multi-family dwellings as well, with current median values around $300,000.
Alongside these price trends, Riverview’s population has grown by 7.1%, which is substantial and likely contributes to the increased housing demand. This growth may be due to several factors such as economic opportunities, quality of life improvements or an influx of newcomers looking for residential stability in a burgeoning market.
Investment Opportunities and Potential
Given the sustained increase in property values and significant population growth, Riverview presents attractive opportunities for real estate investors. The consistent appreciation in house prices suggests that investments made in the residential sector are likely to benefit from capital gains over time. Moreover, with a median house price of $500,000, Riverview remains relatively affordable compared to major urban centers, potentially offering better value and higher yield prospects for investors.
The gradual increase in apartment prices points towards a potential for rental market investments as well. With the population on an upswing, demand for rental properties is expected to rise, which could lead to higher rental income and lower vacancy rates for investors targeting apartment buildings or developing multi-unit residential complexes.
Future Market Outlook
The future outlook for Riverview’s real estate market remains positive. The combination of a growing population and consistent property value appreciation indicates a sustainable upward trajectory. Should current trends persist—particularly if economic development initiatives are successful and continue to attract new residents—the housing market is poised for continued growth.
In summary, Riverview’s real estate market demonstrates strong fundamentals with steady appreciation rates and a solid population growth rate. Both owner-occupied residences and investment properties show promise under current conditions; however, potential investors should remain vigilant about interest rate changes, economic shifts, and local developments that could impact future market dynamics.
