Denmark, 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 | $450,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $460,000 |
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) | 6.0 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Denmark, Nova Scotia, is currently experiencing a period of steady growth. With the median house price established at $500,000 and witnessing a year-over-year increase of 3.5%, the market displays a healthy upward trend for single-family homes. Meanwhile, the apartment sector is also seeing growth, albeit at a slightly more moderate pace, with a median price of $300,000 and an annual growth rate of 2.1%. The robust population growth of 7.1%, which has brought the area’s population to approximately 15,000 residents, suggests an increasing demand for housing which may continue to support these positive trends.
2. Investment Opportunities and Potential
In light of the consistent growth in housing prices and the significant population increase, Denmark presents promising investment opportunities. The steady appreciation in property values offers potential for capital gains over the medium to long term. Given that both segments of the market—houses and apartments—are on an upward trajectory, investors could benefit from diversifying their portfolios across different types of properties to mitigate risk and capitalize on the broader market strength. Furthermore, with rental demand likely rising due to population growth, income-generating properties may offer attractive yields for those looking for immediate cash flow.
3. Future Market Outlook
The future outlook for Denmark’s real estate market appears optimistic given current trends and underlying demographic factors. Assuming that the region continues to attract new residents at a similar or greater rate due to its economic prospects or quality of life advantages, demand for housing is expected to remain robust. If local employment opportunities expand and infrastructure development keeps pace with population growth, this could further bolster the market’s stability and attractiveness to both homebuyers and investors alike. However, it is essential for stakeholders to monitor economic indicators closely as external factors such as interest rates or broader economic shifts could influence future market dynamics.
