Amherst, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
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 | $340,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,050 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.8% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Amherst, Nova Scotia
The real estate market in Amherst, Nova Scotia, is currently experiencing a period of steady growth. The median house price stands at $485,000, which reflects a year-over-year increase of 4%. This suggests that the housing market is healthy, with prices rising at a sustainable rate. Similarly, the apartment sector also demonstrates growth, with a slightly lower year-over-year price increase of 2.5%, bringing the median apartment price to $295,000.
One contributing factor to these positive trends is the population growth of 3.8% in the area. An expanding population typically leads to increased demand for housing, which can drive prices upward. The data implies that Amherst is likely attracting new residents due to various factors such as employment opportunities, quality of life improvements, or regional economic development initiatives.
Investment Opportunities and Potential in Amherst
Given the current market trends and population growth, Amherst presents several promising investment opportunities. The consistent rise in property values indicates a stable market where investments can expect to appreciate over time. For investors looking at long-term gains, purchasing residential properties could be advantageous as the demand for housing may continue to grow alongside the population.
Furthermore, since apartment prices are increasing at a moderate pace, this sector might appeal to investors focusing on rental income. With more people moving into the area, there could be a growing market for rental properties. Investors might also consider exploring opportunities in developing new residential units or renovating existing ones to cater to the influx of residents seeking modern amenities.
Future Market Outlook for Amherst Real Estate
The future outlook for Amherst’s real estate market remains positive. The steady growth in both house and apartment prices coupled with ongoing population increases suggests that demand for housing will continue to be robust. As long as economic conditions remain favorable and the town continues to attract new residents through job creation or lifestyle advantages, we can anticipate ongoing stability with potential for further growth.
Investors should monitor factors that could impact the market such as interest rates changes, national economic trends, and local developments that could either enhance or detract from Amherst’s attractiveness as a place to live. Staying informed on these elements will be key in making strategic investment decisions going forward.
In conclusion, Amherst’s real estate market offers solid opportunities for investors backed by healthy market conditions and positive demographic trends. While vigilance is always recommended when assessing future prospects, current indicators point toward continued market strength in this Nova Scotian community.
