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
Belmont, Nova Scotia is currently experiencing a stable real estate market characterized by moderate growth. The median house price in the region stands at $500,000, reflecting a year-over-year increase of 3.5%. This steady incline suggests that the market is relatively healthy and that homes are appreciating at a consistent pace.
Similarly, the apartment sector has shown positive movement, with the median apartment price reaching $300,000, and an annual growth rate of 2.1%. This slower rate of increase compared to houses indicates a slightly cooler market for apartments but still points to an overall upward trend.
The population of Belmont is currently around 15,000 residents, having grown by 7.1%. This significant population growth can be indicative of increased demand for housing which may continue to push property prices upward if the current trend persists.
Investment Opportunities and Potential
The current market conditions in Belmont present several investment opportunities. For investors looking at long-term equity growth, purchasing single-family homes could be advantageous given the higher growth rate in this sector. The increasing median house price suggests that there is ongoing demand for such properties.
On the other hand, the apartment market, while growing at a slower pace, may offer opportunities for those interested in rental income. Given the population increase, there may be an expanding rental market with potential tenants moving into the area. Investors should consider both the capital appreciation potential and rental yield when evaluating apartment investments.
Additionally, new development projects could be anticipated to meet the rising housing demand due to population growth. Investors might seek to engage in real estate development or invest in pre-construction sales which often provide attractive pricing and good potential for appreciation upon project completion.
Future Market Outlook
Looking ahead, Belmont’s real estate market shows promise for sustained growth. The consistent rise in property values coupled with robust population expansion sets a positive tone for future prospects. If current trends hold, one can expect continued appreciation in property prices at a measured pace.
However, it is essential to monitor economic factors such as employment rates, interest rates, and local industry performance since these will influence housing affordability and overall demand. Provided that these factors remain favourable, Belmont’s real estate market should maintain its momentum and remain attractive to both homebuyers and investors.
It’s also worth noting that as more people move into Belmont seeking housing options, there will likely be an increased need for diverse types of properties including townhouses, semi-detached homes, and multifamily units. Developers and investors keeping an eye on changing consumer preferences could benefit from catering to this evolving demand.