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 (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 Arcadia, Nova Scotia, is currently experiencing a period of moderate growth. With a median house price settled at $500,000, the year-over-year increase has been noted at 3.5%. This growth is relatively stable and suggests a healthy demand for single-family homes in the area. Similarly, the median apartment price is $300,000, with a slower yet steady year-over-year appreciation of 2.1%.
The population of Arcadia has seen a significant uptick, growing by 7.1% which now stands at approximately 15,000 residents. This population growth is indicative of a thriving community that may continue to attract new residents and investors alike, potentially exerting upward pressure on property values over time.
Investment Opportunities and Potential
In light of current trends, investment opportunities within Arcadia appear promising. The continuous increase in housing prices reflects a market with strong demand and limited supply. Investors could potentially benefit from acquiring properties now to capitalize on the expected future appreciation.
The apartment sector may appeal to those looking for lower entry points into the real estate market or seeking rental income opportunities. Considering the steady growth in apartment values coupled with population increases, rental demand is likely to rise – signaling potential for favorable rental yield and occupancy rates.
Given the robust population growth rate, there may also be opportunities for development projects aimed at addressing the increasing housing need. Both residential and mixed-use developments could be considered viable investment strategies given current market dynamics.
Future Market Outlook
The future outlook for the Arcadia real estate market remains optimistic. Continued population growth will likely sustain housing demand, which could lead to further appreciation in property values. The consistent upward trend in both median house and apartment prices suggests that the real estate market in Arcadia is resilient.
Diversification within the housing market through new developments or renovations of existing properties might provide additional momentum to this upward trajectory. Moreover, as long as economic conditions remain favorable and interest rates are managed effectively by policymakers, Arcadia’s real estate market should maintain its positive course.
However, investors should also consider macroeconomic factors such as employment rates, infrastructure development, and broader economic trends that could influence local market conditions in the long term.