Sherbrooke, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.1% |
| Stock on market | 0.7% |
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 | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,400 |
| Population Change | 4.2% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| 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 exhibiting signs of steady growth. With a median house price of $485,000 and an annual appreciation trend of 4.1%, the market is appealing to homeowners looking for long-term value in their investments. Similarly, the median apartment price has seen a more modest year-over-year increase of 2.5%, currently standing at $295,000. This suggests a stable demand for both types of properties.
The population growth rate of 4.2% is another indicator of a robust local economy and inflow of residents seeking the lifestyle that Sherbrooke offers. This demographic trend is expected to continue fueling demand for housing in the area.
Investment Opportunities and Potential
For investors considering Sherbrooke’s real estate market, several factors highlight its potential. The consistent rise in property values indicates a healthy market with potential for capital gains over time. Houses are appreciating at a slightly faster pace than apartments, which may point to a stronger demand for single-family homes or larger living spaces.
Given the ongoing population growth, rental properties may also present a lucrative opportunity. Investors can expect a steady influx of prospective tenants as more people move into the area. Furthermore, with an increased interest in suburban and rural living post-pandemic, markets like Sherbrooke could see continued upward pressure on property prices and rental rates.
Future Market Outlook
Looking ahead, the future market outlook for Sherbrooke remains positive. The sustained population growth will likely persist as remote work becomes more mainstream and individuals seek communities offering quality of life outside urban centers.
The current trends suggest that both housing and apartment prices will continue to rise at a measured pace, keeping investments in real estate attractive due to anticipated equity growth. However, it is crucial to monitor economic indicators and be mindful of potential shifts in interest rates or regional economic conditions that could impact the market dynamics.
In conclusion, Sherbrooke’s real estate market is poised for continued growth with sound investment opportunities across various property types, backed by promising demographic trends and steady price appreciation.
