Dominion, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
Median price | $487,000 |
Monthly growth | 1.1% |
Quarterly trend | 3.7% |
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 | $425,000 |
3 bedrooms | $487,000 |
4 bedrooms | $575,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $335,000 |
3 bedrooms | $420,000 |
Demographics
Current Population (2025) | 15,500 |
Previous Population (2020) | 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 Dominion, Nova Scotia real estate market is currently experiencing steady growth. With a median house price of $487,000 and a year-over-year increase of 3.7%, the market is showing signs of healthy progression. The apartment sector follows a similar trend with a median price of $295,000 and an annual appreciation rate of 2.5%. The consistent growth in property values suggests a stable investment environment for residential real estate.
The population growth rate of 3.3% indicates an expanding community, which may be contributing to the demand for housing and the consequent rise in property prices. This demographic trend can exert upward pressure on rental and purchase markets alike as more individuals seek accommodation in the region.
Investment Opportunities and Potential
In light of the market data, Dominion presents several promising investment opportunities. The steady increase in housing prices points to a resilient market that could offer long-term capital gains for investors. Moreover, with the population growth outpacing many other regions, there is potential for increased demand for rental properties, benefiting investors looking to enter the landlord market.
The relatively moderate price point for apartments also suggests an entry-level investment opportunity that could appeal to first-time investors or those with limited capital looking to take advantage of the growing market.
Future Market Outlook
The future outlook for Dominion’s real estate market remains optimistic. Assuming current trends continue, we can anticipate ongoing gradual growth in property values. The robust population increase suggests sustained demand for housing which should help support the market stability.
However, potential investors and homeowners should be mindful of broader economic factors that could impact the market. Interest rates, employment levels, and regional economic development are all variables that can influence future performance. Keeping abreast of these factors will be crucial for making informed decisions within the Dominion real estate landscape.