Granton, 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 Granton, Nova Scotia, is currently experiencing steady growth. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This consistent appreciation in home values indicates a healthy demand for housing in the area. Similarly, the apartment market is also showing positive momentum with the median price at $300,000 and an annual growth rate of 2.1%. The population of Granton has grown to 15,000 residents, marking a substantial population growth rate of 7.1%, which suggests an increasing demand for housing that could continue to push property values upward.
Investment Opportunities and Potential
The robust population growth paired with the steady rise in property values presents a favorable environment for real estate investment in Granton. The current trends suggest that there is a strong potential for capital gains over the medium to long term. Investors may find opportunities in both the single-family home segment and the apartment sector due to their stable price increases. With the population projected to continue growing, rental demand may also rise, offering potential for investors interested in rental income properties. Furthermore, new developments or refurbishments could cater to the influx of new residents looking for modern amenities, which can command premium pricing.
Future Market Outlook
Looking ahead, the Granton real estate market shows promising signs for sustained growth. Given the strong economic fundamentals such as ongoing population growth and consistent property value appreciation, it is reasonable to anticipate continued demand for housing. Assuming no major economic disruptions occur, we can expect both the house and apartment markets to maintain their upward trajectories. This bodes well for homeowners seeking appreciation in their property value and investors looking for good returns on investment through either capital gains or rental yields.
