Arisaig, 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
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Current Market Conditions and Trends
The real estate market in Arisaig, Nova Scotia, is currently experiencing steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market demonstrates moderate but consistent appreciation. Similarly, the apartment sector shows a positive trend with a median price of $300,000 and a growth rate of 2.1% year-over-year.
The community’s population has seen a healthy increase of 7.1%, suggesting an uptick in demand for housing due to demographic influx. This population growth can be attributed to Arisaig’s appealing lifestyle, natural beauty, and potentially its burgeoning local economy.
Investment Opportunities and Potential
Investors should take note of Arisaig’s potential for sustained property value increases. Given the moderate pace of price growth across both houses and apartments, investment in residential real estate is promising, particularly for those looking at long-term capital gains. The area’s population rise implies more rental demand in the future, potentially leading to higher rental yields for income-focused investors.
Moreover, as more people seek properties outside of urban centers post-pandemic, areas like Arisaig could benefit from increased interest, which may put upward pressure on both prices and rents.
Future Market Outlook
The forecast for Arisaig’s real estate market remains optimistic. The ongoing population growth suggests that demand will continue to bolster the housing sector. If current trends persist, we can expect further gradual increases in property values.
However, investors should stay informed about local developments that could impact the market and be mindful of broader economic conditions that might influence interest rates and lending practices. Monitoring these factors will be vital for anyone looking to capitalize on Arisaig’s real estate market potential.
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