Abercrombie, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
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 | $325,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| 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 Abercrombie, Nova Scotia is currently experiencing steady growth. With a median house price of $485,000, the market has seen a modest year-over-year increase of 2.8%. This indicates a stable environment for homeowners and a positive trend for potential investors. The median apartment price stands at $295,000, with a slightly lower year-over-year appreciation of 1.9%. These growth rates suggest that while the market is expanding, it is doing so at a sustainable pace.
Investment Opportunities and Potential
Given the current market conditions, there are several promising investment opportunities in Abercrombie. The steady increase in property values coupled with significant population growth of 4.8%, which brings the population to approximately 15,200, points to a growing demand for housing. Investors may find long-term capital gains in both the housing and apartment segments due to ongoing demand driven by population influx. Rental properties could also be an attractive option considering potential rental demand from those who may not be ready or able to purchase homes.
Future Market Outlook
The future market outlook for Abercrombie’s real estate appears optimistic. Population growth is typically a strong driver for housing demand, and with an above-average increase of 4.8%, this could sustain and possibly enhance the current upward pricing trajectory. Assuming economic conditions remain favorable and the local job market continues to support population increases, both the housing and apartment markets should maintain their gradual appreciation trends. However, investors should remain cognizant of national economic indicators and regional policy changes that could impact these projections.
