Alma, 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 Alma, Nova Scotia is currently experiencing steady growth. With a median house price sitting at $500,000 and showing a year-over-year increase of 3.5%, the housing market demonstrates resilience and a trend towards gradual appreciation. Similarly, the median apartment price is currently $300,000, increasing at a slightly lower yet consistent year-over-year rate of 2.1%. This growth pattern is underpinned by Alma’s expanding population, which has seen a significant rise of 7.1%. Such demographic growth typically leads to increased demand for housing, contributing to the upward pressure on property values.
Investment Opportunities and Potential
The positive trajectory of Alma’s real estate market suggests promising investment opportunities. Given the steady appreciation in both house and apartment prices, investors can expect a reliable return on investment through capital gains over time. Moreover, the robust population growth hints at a potential rise in rental demand, presenting an opportunity for investors to generate steady income streams from rental properties. Considering the current trends, properties geared towards families and young professionals could be particularly lucrative, given the demographic shifts likely to accompany population growth.
Future Market Outlook
The future outlook for Alma’s real estate market remains optimistic based on current trends and data. The consistent growth in property values implies that the market has not yet reached its peak and may continue to prosper in the short to mid-term. Population growth will likely remain a key driver for housing demand, which bodes well for both home sales and rental markets. Nonetheless, investors should monitor local economic indicators and development plans closely as these factors can influence future market conditions significantly.
