Belmont, 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 in Belmont, Nova Scotia
The real estate market in Belmont, Nova Scotia, is currently experiencing steady growth. The median house price in the area stands at $500,000, reflecting a year-over-year increase of 3.5%. This indicates a robust market with consistent demand for detached homes. Additionally, the median apartment price is $300,000, with a slightly lower year-over-year growth rate of 2.1%. The divergence in growth rates between house and apartment prices suggests that single-family homes are in higher demand compared to apartments.
The population of Belmont has grown to 15,000, which marks an impressive growth rate of 7.1%. This increase is likely contributing to the upward pressure on real estate prices due to heightened demand for housing. With both housing prices and population on the rise, the current market conditions suggest an active environment for both buyers and sellers.
Investment Opportunities and Potential in Belmont
The ongoing population growth combined with positive real estate trends presents a favorable landscape for investment opportunities in Belmont. Investors looking to capitalize on the growing housing demand may find potential in both the detached home market and multi-unit residential buildings like apartments.
Given the higher appreciation rate of houses compared to apartments, investors might prioritize purchasing single-family homes or consider developing new residential properties that align with current market demands. Additionally, as more people migrate to Belmont or move within the area, rental properties could also provide stable income streams and long-term capital appreciation.
Future Market Outlook for Belmont’s Real Estate
The future outlook for Belmont’s real estate market appears optimistic. Assuming that current economic factors remain stable and the population continues its upward trajectory, it is reasonable to expect that property values will continue to appreciate. The sustained growth rate of 3.5% for houses suggests that this segment will remain strong, while the apartment market could see a gradual increase as well if demand for more affordable housing options rises alongside population growth.
In conclusion, Belmont’s real estate market shows positive indicators for ongoing health and vitality. Stakeholders such as homeowners, investors, and developers should monitor key factors including interest rates, employment levels, and broader economic conditions that could affect future market dynamics.
