Scotchtown, 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 Scotchtown, Nova Scotia is currently experiencing steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%. This suggests a healthy demand for housing in the area, which is further supported by a population growth rate of 7.1%. The median apartment price stands at $300,000, with a more modest year-over-year increase of 2.1%. The consistent growth in property values indicates a balanced market that is growing in lockstep with the region’s increasing population.
Investment Opportunities and Potential
The positive trends in the Scotchtown real estate market present appealing opportunities for investors. The strong population growth of 7.1% signifies an expanding market with potential for rental properties as newcomers will be looking for housing options. Given the rising median house price trend of 3.5%, investors could expect capital appreciation on residential properties over time. Similarly, apartments’ median price has been steadily increasing by 2.1% annually, suggesting that investment in multi-family units could provide stable returns through both rental income and value appreciation.
Future Market Outlook
Looking ahead, the future market outlook for Scotchtown remains optimistic. The sustained population growth implies an enduring demand for housing, which should continue to support property value increases. If current trends persist, the real estate market is likely to maintain its upward trajectory, making Scotchtown an attractive location for both homeowners and investors seeking long-term gains. However, potential investors should remain vigilant about economic factors that might impact interest rates and affordability which could alter this forecast.
