Glenholme, 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
The real estate market in Glenholme, Nova Scotia, currently exhibits stable growth, with the median house price sitting at $500,000, marking a 3.5% year-over-year increase. This steady climb suggests a healthy demand for housing in the area. Meanwhile, apartments are also experiencing growth, albeit at a slightly slower pace, with the median price of $300,000 reflecting a 2.1% year-over-year increase. This difference in growth rates may indicate a higher demand for houses over apartments or reflect different market dynamics between these two housing types.
The population of Glenholme stands at 15,000 and has seen an impressive 7.1% growth. This significant increase in residents is likely driving the demand for housing and contributing to the uptick in property values. The current trends suggest that Glenholme is experiencing positive economic conditions that are supportive of both housing demand and real estate investment.
Investment Opportunities and Potential
Given the steady rise in property values and significant population growth, Glenholme presents robust investment opportunities for both residential and rental markets. For investors looking to purchase properties to rent out, the growing population could indicate a rising demand for rental accommodations, potentially leading to favorable rental yields.
The consistent appreciation of house prices at 3.5% per annum offers a promising outlook for long-term capital gains on residential properties. Similarly, the apartment market’s 2.1% annual appreciation rate could attract investors seeking more affordable entry points into the real estate market while still benefiting from asset appreciation over time.
Investors should also consider diversifying their portfolio within Glenholme’s real estate market by exploring both types of properties and identifying specific neighborhoods or developments that offer additional growth potential.
Future Market Outlook
The future real estate market outlook for Glenholme is cautiously optimistic based on current trends and demographic indicators. If the population continues to grow at its current rate or even accelerates further due to factors such as immigration or regional economic development, we can expect continued demand for housing which should sustain or potentially increase current price growth rates.
However, investors must remain vigilant about broader economic conditions and factors such as interest rates, employment rates, and government policies affecting homeownership and real estate investment which can have an impact on local markets.
In conclusion, Glenholme’s real estate market shows promise with its solid year-over-year growth in property values and significant population increase. Prospective investors should monitor these trends closely while remaining aware of external influences that may affect future market conditions.
