Arichat, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.2% |
| Stock on market | 0.5% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| 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 Arichat, Nova Scotia is currently experiencing a state of steady growth. With a median house price of $485,000, the market has seen a year-over-year increase of 4.2%. This indicates a healthy demand for housing in the area, which is likely driven by both local factors and broader provincial trends. Furthermore, the median apartment price stands at $295,000, which has risen by 2.5% compared to the previous year. This slower rate of increase suggests that while there is growth in the apartment sector as well, it may be at a more sustainable pace than that of houses.
Investment Opportunities and Potential
The current market data suggests that Arichat offers promising investment opportunities. The continuous growth in property values provides potential for capital gains over time. Additionally, with a population growth rate of 3.4%, there is an expanding base of potential renters or buyers, which may lead to increased demand for housing. Investors should consider both residential properties for long-term appreciation and rental income opportunities given the consistent market upswing. Furthermore, as apartment prices are growing at a slower rate than house prices, investors might find apartments to be more accessible entry points into the real estate market with potentially high yields on investment.
Future Market Outlook
Looking ahead, the future market outlook for Arichat appears optimistic. Given the solid population growth and positive pricing trends, it’s reasonable to anticipate that demand for real estate will continue to rise. While no market can be entirely predicted, indicators such as population influx and sustained price increases suggest that Arichat’s real estate market could remain robust in the near future. Investors and homebuyers considering Arichat may find it beneficial to enter the market sooner rather than later to capitalize on current trends before any potential shifts occur.
