Argyle, 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 Argyle, Nova Scotia, is currently experiencing a steady growth in property values. The median house price in the area is $500,000, with a year-over-year increase of 3.5%. This suggests a stable and growing market for single-family homes. Meanwhile, the median apartment price stands at $300,000, with a slower year-over-year growth rate of 2.1%. This indicates that while apartments are appreciating in value, the market for houses is more dynamic.
Furthermore, Argyle’s population has witnessed a significant growth of 7.1%, which signals an increasing demand for housing in the region. This demographic shift could be due to several factors including local economic development or an influx of individuals seeking lifestyle changes in smaller communities.
Investment Opportunities and Potential
The consistent rise in house prices coupled with a robust population growth presents lucrative investment opportunities in Argyle. Single-family homes, given their higher appreciation rate, offer potential for capital gains over time. Investors looking to tap into the rental market may find apartments appealing due to their lower entry price point and the growing population’s housing needs.
In addition to residential properties, commercial real estate could also benefit from the expanding local economy and population increase. Developers and investors should consider exploring mixed-use developments that cater to the lifestyle preferences of new residents as well as long-standing community members.
Future Market Outlook
The outlook for Argyle’s real estate market remains positive. The steady growth rates for both houses and apartments suggest ongoing confidence in property investments. As the population continues to expand at a notable pace, demand for housing is likely to persist, potentially pushing property values even higher.
Given current trends and assuming no major economic disruptions occur, investors can expect continued appreciation on real estate assets over the next few years. However, it is important for stakeholders to keep abreast of regional economic conditions, infrastructure developments, and changes in housing policies that may impact future market dynamics.