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 (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
In Aberdeen, Nova Scotia, the real estate market is experiencing steady growth. The median house price currently stands at $500,000, reflecting a year-over-year increase of 3.5%. This indicates a healthy demand for residential properties and a robust housing market. Similarly, the median apartment price has risen to $300,000, with a more modest annual growth rate of 2.1%. This growth in property values can be attributed to Aberdeen’s growing population, which has seen a notable increase of 7.1%, bringing the total population to approximately 15,000 residents. This demographic expansion is likely fueling housing demand, contributing to the observed price trends.
Investment Opportunities and Potential
The positive trajectory of Aberdeen’s real estate market presents numerous opportunities for investors. Given the consistent appreciation in property values, investing in both residential houses and apartments could yield profitable returns in the medium to long term. The strength of the local market is further supported by its expanding population base, which may lead to increased rental demand. This suggests potential for investors to capitalize on rental income as well as capital gains. Furthermore, with prices still relatively affordable compared to larger urban centers, Aberdeen offers an attractive entry point for both first-time buyers and seasoned investors looking to diversify their portfolios.
Future Market Outlook
The future outlook for Aberdeen’s real estate market appears promising. The continued population growth signifies sustained demand for housing in the foreseeable future. If current trends persist, we may expect further incremental rises in property values over the next several years. However, prospective investors and homeowners should remain cognizant of economic factors that could impact interest rates and borrowing costs. These variables play a critical role in maintaining market momentum and affordability. Overall, with careful monitoring of economic indicators and prudent investment strategies, stakeholders can look forward to participating in a dynamic and growing real estate market in Aberdeen.