Falmouth, 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 (2025) | 15,000 |
Previous Population (2020) | 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
The real estate market in Falmouth, Nova Scotia, is currently characterized by a steady growth in property values. With a median house price of $500,000 and an annual increase of 3.5%, the market is showing resilience and a stable upward trend. Similarly, the median apartment price stands at $300,000, with a slightly lower growth rate of 2.1% year-over-year.
This balanced growth reflects healthy demand and suggests that Falmouth’s market has not experienced the extreme price volatility seen in some other regions. The town’s population has been growing at a robust rate of 7.1%, which indicates a strengthening local economy and could be contributing to the increased demand for housing.
Investment Opportunities and Potential
The consistent rise in property prices coupled with steady population growth presents attractive investment opportunities in Falmouth. For investors looking to enter the residential market, single-family homes appear to be appreciating at a reliable pace, making them potentially sound investments for both rental income and capital gains.
Apartments also present an opportunity, especially for those targeting the more affordable segment of the market or looking to cater to smaller households. Given the lower appreciation rate, investors may find apartments to be more accessible entry points into the real estate market with a potentially faster turnover.
Future Market Outlook
The future outlook for Falmouth’s real estate market remains optimistic due to ongoing population growth and economic stability within the region. Assuming current trends continue, property values are expected to maintain their gradual ascent. The significant population increase suggests that there will be continued demand for housing, which may further drive up prices over time.
While no market is without risk, Falmouth’s real estate market shows potential for sustained long-term growth. Investors should monitor local economic indicators and demographic shifts closely, as these will play critical roles in shaping the future trajectory of property values in the area.