Sherbrooke, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.3% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
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
Current Market Conditions and Trends
The real estate market in Sherbrooke, Nova Scotia is currently experiencing steady growth. With a median house price of $485,000, the market has shown a year-over-year increase of 3.3%. This indicates healthy demand and reflects a broader national trend of home value appreciation. Similarly, the median apartment price is at $295,000, following an uptick of 2.5% from the previous year.
The population of Sherbrooke stands at 15,500, with a notable growth rate of 3.3%. This demographic expansion suggests a potential increase in housing demand, which may support continued property value growth in both residential homes and apartment sectors.
Investment Opportunities and Potential
Sherbrooke presents several attractive investment opportunities. The consistent appreciation of house and apartment prices points to a stable market that could offer long-term capital gains for investors. The ongoing population growth further bolsters the potential for rental properties to yield profitable returns due to increased demand for living spaces.
Given the current trends, investors might consider diversifying their portfolios by including both types of properties—houses for their higher value appreciation potential and apartments for their affordability and appeal to individuals or smaller households.
Future Market Outlook
The future outlook for Sherbrooke’s real estate market remains optimistic. With sustained population growth and a trend towards urbanization, demand for housing is expected to remain robust. The steady appreciation rates seen over the past year suggest that the market is well-positioned to maintain its momentum into the foreseeable future.
In addition, macroeconomic factors such as interest rates, employment rates, and regional economic development initiatives will play a significant role in shaping the direction of Sherbrooke’s housing market. Assuming these factors remain favorable, Sherbrooke’s real estate market should continue to offer attractive opportunities for both homeowners and investors alike.
