Abercrombie, 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 Abercrombie, Nova Scotia is currently experiencing a period of moderate growth. With a median house price of $500,000, the market has seen an upward trend of 3.5% year-over-year. This steady growth indicates a healthy market that has been consistently appreciating in value, which is promising for homeowners and investors alike.
In contrast, the median apartment price stands at $300,000, with a slightly lower growth rate of 2.1% year-over-year. The slower pace in the apartment sector suggests a more stable but less dynamic market segment compared to houses.
The area’s population has grown to 15,000 residents, marking a significant increase of 7.1%. This population growth can be attributed to Abercrombie’s appeal as a residential destination and may lead to increased housing demand over time.
Investment Opportunities and Potential
The ongoing population growth coupled with consistent property value appreciation presents compelling investment opportunities in Abercrombie. The single-family housing market shows potential for long-term capital gains due to its higher annual growth rate. Properties in this segment could be particularly attractive to investors looking for stable assets with the prospect of steady appreciation.
Apartments offer a different value proposition, appealing to those interested in entering the real estate market at a lower price point or seeking rental income properties. Despite their lower appreciation rate, apartments in Abercrombie might serve as an ideal starting point for new investors or as part of a diversified real estate portfolio.
Future Market Outlook
The future outlook for Abercrombie’s real estate market remains positive. The observed trends suggest that both the housing and apartment markets will continue to experience growth, albeit at potentially varying rates. The robust population increase hints at sustained demand for housing which should support the market’s stability and prevent significant fluctuations in property values.
Investors and homebuyers considering Abercrombie can be cautiously optimistic about entering the market. However, it is crucial to monitor local economic factors, interest rates, and regional development plans, as these can influence future real estate dynamics significantly.