Ardoise, 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
The real estate market in Ardoise, Nova Scotia is currently experiencing a period of steady growth. With a year-over-year increase of 3.5% in median house prices, now at $500,000, the market is showing signs of healthy demand. The median apartment price has also seen a rise, albeit at a slower pace of 2.1%, bringing it to $300,000. This growth can be partially attributed to the area’s population growth which stands at an impressive 7.1%, indicating an influx of new residents and a potential boost in housing demand.
Investment Opportunities and Potential
In light of the current trends, Ardoise presents several attractive investment opportunities. The consistent growth in house prices suggests that purchasing residential property could yield favorable returns over time. Apartments are also a viable investment option given their increasing value, though the appreciation rate is somewhat lower than that for houses. Investors should consider the demographic trends driving population growth, such as immigration or regional economic development, to make informed decisions about the types of properties that are likely to see increased demand.
Future Market Outlook
The future of the Ardoise real estate market looks promising. The strong population growth indicates an expanding base of potential homebuyers and renters, which may continue to drive up property values. If the current trend persists, investors could expect continued appreciation in both house and apartment prices. However, it is important for investors to monitor local economic conditions and potential housing supply changes that could affect market dynamics. Strategic investments made in alignment with long-term demographic and economic trends have the potential to be particularly rewarding in this market.
