Dartmouth, 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 | $420,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
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
Current Market Conditions and Trends
The real estate market in Dartmouth, Nova Scotia, is currently experiencing a period of steady growth. The median house price stands at $500,000, which represents a 3.5% year-over-year increase. This ongoing appreciation in housing values suggests a healthy demand for residential properties in the area. Similarly, the median apartment price has seen a 2.1% year-over-year increase, reaching $300,000. This modest but consistent growth indicates a stable investment environment for multi-family dwellings.
With a population of 15,000 that has grown by 7.1%, Dartmouth is becoming an increasingly attractive destination for both residents and investors. This population growth can contribute to the demand for housing, thereby potentially continuing to push property values upward.
Investment Opportunities and Potential
The sustained increase in property values coupled with steady population growth suggests that Dartmouth holds significant investment potential. Residential properties have shown resilience with a consistent upward trend in pricing, indicating strong market fundamentals. Investors looking to acquire assets in Dartmouth may find long-term capital gains particularly attractive.
The lower price point of apartments compared to houses offers an entry point for investors with less capital who still wish to take advantage of the growing market. With apartments experiencing a slower rate of appreciation, investors may also find opportunities to purchase at more affordable prices before future appreciation accelerates.
Future Market Outlook
The future real estate market outlook for Dartmouth appears optimistic. Assuming the continuation of current trends such as population growth and regional economic development, it is reasonable to expect ongoing demand for housing, which could further drive up property values. However, potential investors should also be mindful of external economic factors that could influence interest rates and borrowing costs.
The current trajectory supports the notion that Dartmouth’s real estate market will remain buoyant. Prospective buyers and investors should keep an eye on infrastructure developments and employment opportunities within the area as these factors will likely strengthen the local economy and enhance property values over time.
