Amherst, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $410,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| 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 Amherst real estate market is currently experiencing a period of steady growth. With a median house price of $495,000, the market has witnessed a modest appreciation of 3.2% year-over-year. This indicates a healthy upward trend that reflects both the desirability and the economic stability of the region.
In contrast, the median apartment price stands at $295,000, with a slower growth rate of 2% year-over-year. This difference in growth rates between houses and apartments suggests that single-family homes are in higher demand, possibly driven by buyers seeking more space.
The population of Amherst has reached approximately 15,200 residents, and it continues to grow at a rate of 2.7%. This population growth can contribute to increased demand for housing as new residents settle in the area.
Investment Opportunities and Potential
Given the consistent growth in property values and population, Amherst presents several attractive investment opportunities. The stronger performance of the single-family home segment may be particularly appealing for investors looking to capitalize on long-term equity gains.
Apartments offer a lower entry point for investment at $295,000 with a 2% growth rate. These could be an excellent opportunity for investors seeking rental properties or catering to those who prefer more affordable housing options.
With ongoing population growth, demand for both rental and owner-occupied housing is likely to remain robust. Investors should also consider local economic drivers, infrastructure development projects, and any government incentives that might impact future property values.
Future Market Outlook
The future outlook for Amherst’s real estate market remains positive. The sustained increase in property values and steady population growth suggest that demand will continue to support the real estate market in the foreseeable future.
However, investors should monitor potential economic changes or shifts in housing policy that could affect market dynamics. Keeping an eye on interest rates, employment levels, and migration patterns will also be crucial for anticipating future trends.
In conclusion, Amherst offers solid investment potential with favorable market conditions that signal continued growth. Prudent investors can capitalize on these trends with informed strategies tailored to this region’s unique characteristics.
