Digby, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.4% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $430,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| 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 Digby, Nova Scotia, is experiencing a period of steady growth. With a median house price of $495,000 and an incremental year-over-year increase of 4%, the housing sector is indicating a robust demand. The apartment market is also showing positive trends with a median price of $295,000 and a growth rate of 2.5% over the past year. This contrasting growth between houses and apartments may point to a diversifying market where different types of properties appeal to varying segments of buyers or investors.
The population of Digby has also been on the rise, with a significant growth rate of 3.4%. This influx of residents may be contributing to the increased demand for housing in the area, as more people are drawn to the region’s natural beauty and lifestyle amenities.
Investment Opportunities and Potential
Given the steady appreciation in property values, Digby presents appealing opportunities for real estate investors. The consistent growth in median house prices suggests that investments in residential properties are likely to benefit from capital gains over time. Additionally, the town’s increasing population could lead to higher demand for rental properties, making it potentially lucrative for those looking to enter the rental market or expand their portfolio with apartment units.
Investors might also consider exploring developments that cater to niche markets within the community such as retirees or vacation home seekers, given Digby’s attractive coastal setting and quieter lifestyle compared to urban centers.
Future Market Outlook
The future real estate market outlook for Digby remains optimistic. Population growth is often a key driver for housing demand, and with an upward trajectory in resident numbers, it’s reasonable to anticipate continued demand for both buying and renting properties. If current trends persist, property value increases are poised to remain stable or possibly accelerate.
However, potential investors should keep an eye on broader economic conditions and local developments that could impact the market. Factors such as employment rates, interest rates, and regional investment could either bolster or dampen the current positive trends. Vigilance and continued analysis will be essential for those looking to capitalize on Digby’s real estate opportunities.
