Elmsdale, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $475,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 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
In Elmsdale, Nova Scotia, the real estate market demonstrates steady growth with the median house price currently standing at $525,000, indicating an annual increase of 4%. This trend points to a robust demand for housing in the area. The median apartment price has also seen a rise to $320,000, growing at a slightly lower rate of 2.5% year-over-year. These figures suggest a healthy market that is appreciating at a sustainable pace.
The current population of Elmsdale is approximately 15,500, which has been growing at a notable rate of 3.3%. This increase in population is adding to the demand for housing units, both in purchases and rentals, thus providing consistent support for the real estate market’s growth.
Investment Opportunities and Potential
The continued appreciation in property values indicates that Elmsdale holds promising investment opportunities. Considering the moderate yet steady growth trends, investors can expect progressive capital gains on properties purchased in this region. The rising demand driven by population growth also suggests potential for rental investments to yield lucrative returns due to increased rental demand.
For those looking to invest in residential properties, single-family homes are particularly attractive given their higher average appreciation rate. Apartments can be considered by investors targeting a different segment of the market or seeking more affordable entry points into real estate investment.
Future Market Outlook
The future outlook for Elmsdale’s real estate market remains optimistic. Population growth is likely to persist as the local economy expands and attracts new residents. Coupled with current trends, this suggests that both house and apartment prices may continue to rise, albeit at a measured pace that promotes stability in the market.
Investors should monitor key factors such as interest rates, employment rates, and any government policies affecting homeownership which could influence market dynamics. However, if present conditions prevail, Elmsdale’s real estate market appears poised for sustained growth over the coming years.
