Spryfield, 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 Spryfield, Nova Scotia, has been experiencing moderate growth. With a median house price of $500,000, the market has seen a steady increase with a 3.5% year-over-year growth rate. This consistent uptrend indicates a stable and developing community that is attracting interest from both residents and investors alike.
In contrast, the median apartment price stands at $300,000, with a slightly lower growth trend of 2.1% year-over-year. Despite this softer growth, apartments in Spryfield offer an affordable entry point into the housing market for first-time buyers or those looking to downsize.
The population of Spryfield is approximately 15,000 residents, and it has been growing at a healthy pace of 7.1%. This demographic trend supports the demand for both rental and owner-occupied housing, which in turn sustains property value appreciation.
Investment Opportunities and Potential
The current market conditions suggest that Spryfield presents several attractive investment opportunities. The steady increase in house prices indicates that purchasing residential properties could yield solid capital gains over time. Investors may also consider leveraging the growing rental demand driven by population growth to secure passive income through rental properties.
With apartments experiencing a slower price increase, they represent potential for investors seeking more accessible investment options or those looking to target the rental market for younger professionals or smaller families.
The robust population growth further suggests that there will be ongoing demand for local amenities and services. Consequently, commercial real estate investment aimed at serving this growing community could also be lucrative.
Future Market Outlook
The outlook for the Spryfield real estate market remains positive. The sustained population growth coupled with gradual property value appreciation paints a picture of continued demand and stable economic development within the region.
We can anticipate that the housing market will maintain its upward trajectory, albeit at a measured pace. This controlled growth is beneficial as it helps prevent the formation of asset bubbles while ensuring that investment returns remain attractive over the long term.
Foresight into infrastructure development projects and regional economic policies will be crucial in predicting more specific trends within the Spryfield market. However, given current indicators, both residential and commercial investors can approach this market with cautious optimism.
