Elmsdale, 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 | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
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 in Elmsdale, Nova Scotia
The real estate market in Elmsdale, Nova Scotia, is currently characterized by steady growth. With a median house price of $500,000 and an appreciating trend of 3.5% year-over-year, the market reflects a healthy demand for residential property. Similarly, the apartment sector is experiencing a positive trajectory with a median price of $300,000 and an annual growth rate of 2.1%. This growth is underpinned by Elmsdale’s growing population, which has seen a significant increase of 7.1%, suggesting robust demographic support for housing demand.
Investment Opportunities and Potential
Elmsdale’s strong population growth alongside its upward trending property values present notable investment opportunities. The consistent rise in house prices indicates a stable market with potential for capital gains over the long term. Moreover, the apartment sector offers a lower entry point at $300,000, with prices also on an upward trend. Investors might consider diversifying into both houses and apartments to leverage different market segments. Rental investments could be particularly attractive due to the increasing population that may drive demand for rental properties.
Future Market Outlook
The future market outlook for Elmsdale remains optimistic based on current trends and demographic indicators. The sustained population growth suggests that demand for housing will continue to be robust, potentially leading to tighter inventory and upward pressure on prices if supply doesn’t keep pace. While the current growth rates are moderate, they reflect a stable environment that could reassure investors looking for sustainable growth rather than volatile booms and busts.
It is important for investors to monitor factors such as local economic development initiatives, infrastructure improvements, and interest rate changes that could impact future market conditions. However, given the present data and trends, Elmsdale appears poised to maintain its course as an attractive location for both residential living and real estate investment.
