Scotchtown, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 3.7% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $400,000 |
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
1. Current Market Conditions and Trends
The real estate market in Scotchtown, Nova Scotia is currently experiencing steady growth. With a median house price of $495,000, there has been a year-over-year increase of 3.7%. This indicates a stable demand for housing in the region. Similarly, apartments are becoming slightly more expensive, with the median price now at $295,000 and witnessing a 2.5% year-over-year growth trend.
The population of Scotchtown stands at 15,500, and it has seen a healthy growth rate of 3.3%. This suggests that the area is attracting new residents, which may be contributing to the steady rise in property values as demand for housing increases.
2. Investment Opportunities and Potential
Given the current trends, Scotchtown presents several attractive investment opportunities. The consistent rise in property values coupled with population growth points towards a robust market with long-term potential for capital gains. For investors looking to purchase rental properties, the increasing population suggests a growing rental market that could yield sustainable returns.
The housing market’s steady appreciation rate also makes it an appealing option for those interested in flipping properties or investing in residential developments. Given the moderate year-over-year price increases, investors might find it advantageous to enter the market now before prices potentially escalate further.
3. Future Market Outlook
The future outlook for Scotchtown’s real estate market appears positive based on current data and trends. Continued population growth is likely to maintain or potentially increase demand for housing. If these demographic trends persist alongside economic stability in the region, it’s reasonable to expect that both house and apartment prices may continue their gradual ascent.
However, prospective investors and homebuyers should consider factors such as interest rates, local employment rates, and regional economic policies as they can significantly impact real estate markets. Monitoring these variables will be key to making informed decisions about entering or exiting Scotchtown’s real estate market.
