Arcadia, 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 (2024) | 15,000 |
| Previous Population (2019) | 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
As of the latest data, Arcadia, Nova Scotia’s real estate market is experiencing steady growth. The median house price currently stands at $500,000, reflecting a 3.5% year-over-year increase. This indicates a healthy demand for single-family homes in the area, likely driven by factors such as local economic stability and lifestyle preferences.
Meanwhile, the apartment sector is also showing positive momentum with the median price at $300,000 and a 2.1% year-over-year growth rate. This suggests that smaller housing units are becoming increasingly desirable, possibly due to demographic shifts or a rising interest in more affordable and lower-maintenance living options.
Investment Opportunities and Potential
The investment landscape in Arcadia is promising. With the population witnessing a significant 7.1% growth, there is potential for increased housing demand, which can benefit investors in both the residential sales and rental markets. The steady appreciation of house and apartment prices points to a market that has not yet reached its peak, offering an opportune moment for entry.
Future Market Outlook
Looking ahead, the real estate market in Arcadia shows signs of continued growth. Given the robust population increase and consistent price trends, it’s reasonable to expect sustained demand for housing in the foreseeable future. However, potential investors should be mindful of broader economic conditions and monitor any policy changes that could impact interest rates or housing affordability.
