Aberdeen, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Aberdeen, Nova Scotia, is currently experiencing a period of steady growth. The median house price stands at $500,000, which reflects a year-over-year increase of 3.5%. This incremental rise indicates a stable market that has been resilient to major fluctuations. Similarly, the median apartment price in Aberdeen is $300,000, with a slightly lower year-over-year growth rate of 2.1%. This difference in appreciation rates between houses and apartments may suggest a stronger demand for single-family homes in this region.
Investment Opportunities and Potential
Given the rising median prices for both houses and apartments, Aberdeen offers promising investment opportunities. The consistent upward trend in property values implies that investors can expect continued capital gains in the medium to long term. Moreover, the population growth rate of 7.1% is a strong indicator of the area’s attractiveness and potential for economic expansion. A growing population often leads to increased rental demand, which could benefit investors seeking income through rental properties. Additionally, with relatively affordable price points compared to larger urban markets, Aberdeen presents an accessible entry point for new investors.
Future Market Outlook
Looking ahead, the future market outlook for Aberdeen appears optimistic. Barring any unforeseen economic shifts or policy changes that may impact the housing market nationally or locally, current trends suggest that property values will continue to grow at a measured pace. The robust population growth rate will likely underpin this growth as it contributes to persistent demand for housing. Investors and homebuyers can be cautiously optimistic about entering the Aberdeen real estate market, given these positive indicators.
