Granton, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $515,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $515,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Granton, Nova Scotia currently stands with a median house price of $515,000, witnessing a year-over-year growth of 4%. This consistent increase indicates a healthy demand for residential properties. The median apartment price is somewhat lower at $315,000, which has gone up by 2.5% over the past year. These trends reflect a stable growth pattern in the housing sector.
The local demographic data shows a population of 15,500 with a growth rate of 3.3%. This significant population increase is likely contributing to the steady demand for housing and can be seen as a positive indicator for those looking to invest in the area’s real estate market.
Investment Opportunities and Potential
Given the current market trends, investment opportunities in Granton appear promising. The steady appreciation of property values suggests that purchasing real estate in this region could yield substantial returns over time. For investors considering rental properties, the rising population hints at a growing rental market which could lead to sustained occupancy rates and potential for rental income growth.
Furthermore, the differential in pricing between houses and apartments might appeal to investors with varying budgets and investment strategies. Those looking for more affordable entry points into the market might find apartments an attractive option due to their lower median price point.
Future Market Outlook
Looking forward, the real estate market in Granton is poised for continued growth. The ongoing population increase is expected to maintain upward pressure on both demand and prices. Assuming that economic conditions remain stable and no major policy changes occur that could adversely affect the housing market, both houses and apartments should continue to appreciate at a moderate pace.
Investors should monitor local economic developments and infrastructure projects, as these factors can influence future property values. Additionally, keeping an eye on national trends and interest rates will be crucial for making informed decisions about entering or exiting the market at opportune times.
