Armdale, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $545,000 |
| Monthly growth | 1.4% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $325,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 3.0% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $460,000 |
| 3 bedrooms | $545,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $475,000 |
Demographics
| Current Population (2024) | 15,300 |
| Previous Population (2019) | 15,000 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.7 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The Armdale real estate market is currently experiencing a period of steady growth. With a year-over-year increase of 4.2% in median house prices, the current median price stands at $545,000. This growth trend is indicative of a healthy demand for housing in the area. Similarly, the median apartment price has seen a rise of 3% from the previous year, suggesting that smaller residential properties are also in demand. This brings the median apartment price to $325,000.
The population of Armdale has grown by 2% to 15,300 residents. This demographic trend is likely contributing to the pressure on housing stock and may explain the consistent price increases observed in the market.
Investment Opportunities and Potential
Given the steady rise in property values and consistent population growth, Armdale presents attractive investment opportunities for both residential and rental markets. The sustained growth in housing prices suggests that investors could benefit from capital appreciation over time. Additionally, with a growing population and corresponding demand for housing, there is potential for rental income investments as well.
Investors should note that while the overall price trends are positive, careful consideration should be given to location within Armdale, property condition, and market dynamics at the time of investment to maximize returns.
Future Market Outlook
The outlook for Armdale’s real estate market remains optimistic. The consistent upward trend in median house and apartment prices indicates a robust market likely to continue its trajectory in the near term. Population growth serves as an underlying driver for housing demand which supports both resale values and rental market stability.
However, investors and homebuyers should remain vigilant of broader economic conditions that could affect interest rates and affordability. Moreover, localized factors such as infrastructure development or changes in zoning laws could impact future market conditions.
In summary, given current data and trends, the Armdale real estate market appears poised for continued growth with promising opportunities for investment and favorable conditions expected to persist.
