Apex, Nunavut 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 Apex, Nunavut, currently exhibits a moderate growth pattern. With the median house price set at $500,000, there has been a steady year-over-year increase of 3.5%. This suggests that while the market is growing, it remains accessible to potential homeowners and investors. The market for apartments shows a similar trend but at a slightly lower growth rate, with a median apartment price of $300,000 and an annual appreciation of 2.1%.
The population in Apex stands at 15,000 residents with an impressive growth rate of 7.1%. This demographic expansion is likely to sustain demand for housing in both the private home and rental sectors.
Investment Opportunities and Potential
The consistent increase in property values across both houses and apartments indicates a stable investment climate in Apex. Investment opportunities may be particularly attractive for those looking to enter the rental market or seeking long-term capital gains. Considering the population’s robust growth, the demand for housing is expected to rise, which could lead to higher rental yields and potential for further property value increases over time.
A strategic approach would involve investing in residential properties that can cater to the growing workforce and their families. Additionally, given Apex’s northern location, there may be opportunities tied to government incentives aimed at bolstering economic development in less populated regions.
Future Market Outlook
The future outlook for Apex’s real estate market appears positive. The ongoing population growth will likely continue fueling demand for housing. If current trends persist, we can anticipate further gradual increases in property values.
However, investors should remain vigilant about changes in local economic drivers and broader national economic conditions that could affect market dynamics. As Apex evolves and potentially attracts more business interests due to its growing population, it is essential for stakeholders to monitor infrastructure developments and government policies that could impact real estate prices and investment attractiveness.
