Belnan, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.8% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $375,000 |
| 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 (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Belnan, Nova Scotia is currently experiencing a steady growth in property values. With a median house price of $485,000 and an upward trend of 4% year-over-year, the market indicates healthy demand for residential properties. Similarly, the median apartment price stands at $295,000, with a more moderate year-over-year increase of 1.8%. This divergence in growth rates between houses and apartments may suggest a stronger preference for single-family homes or a response to lifestyle changes prompted by remote work trends.
The population of Belnan has grown to 15,500 residents, with a robust growth rate of 3.3%. This demographic expansion is likely contributing to the increased demand for housing in the region, putting upward pressure on prices and reducing market inventory levels.
Investment Opportunities and Potential
Belnan’s real estate market presents several investment opportunities, particularly in the single-family home segment where the growth is most pronounced. Investors can capitalize on the steady appreciation of property values driven by consistent population growth. The slower growth rate in apartment prices suggests that there may be an opportunity for investors to enter this market segment at a relatively lower entry point, potentially yielding long-term gains as the demand for diverse housing options rises alongside population increases.
New development projects could also be lucrative, given the current trends indicating that the incoming population may be seeking newly built properties. Furthermore, rental properties may become increasingly profitable as more people move to the area and require short to medium-term housing solutions.
Future Market Outlook
The future outlook for Belnan’s real estate market remains optimistic. If current trends persist, we can anticipate continued growth in property values, supported by ongoing population increases and sustained demand for housing. The 4% annual growth in house prices suggests that there is room for sustained appreciation without immediate risk of overheating.
Focusing on infrastructure development and amenities could further bolster market attractiveness and support higher property values over time. However, investors should remain vigilant about macroeconomic factors such as interest rates and employment levels which could impact affordability and demand within the real estate market.
In conclusion, Belnan’s real estate market offers promising opportunities for investment with careful consideration to current trends and future projections. Stakeholders should maintain a data-driven approach to capitalize on this growing market while mitigating potential risks.
