Ingomar, 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
In Ingomar, Nova Scotia, the real estate market is experiencing steady growth. The median house price stands at CAD 500,000, with a year-over-year increase of 3.5%. This suggests a healthy demand for single-family homes in the area. Similarly, the apartment market is also showing positive trends with a median price of CAD 300,000 and an annual growth rate of 2.1%. These metrics indicate a stable and moderately appreciating real estate environment.
The population of Ingomar has grown by 7.1% to reach 15,000 residents. This growth can be attributed to several factors such as the region’s natural beauty, its appeal to both retirees and remote workers seeking quality living environments outside urban centers, and the overall affordability compared to larger Canadian cities.
Investment Opportunities and Potential
The consistent rise in property values coupled with substantial population growth underscores significant investment opportunities within Ingomar’s real estate market. Investors might find potential in purchasing residential properties to cater to the growing demand from new residents moving into the area. The trend towards remote work can further stimulate demand for larger homes that accommodate home offices—boosting interest in detached houses.
Apartments offer a different type of investment opportunity with their lower median price point and steady appreciation rate. They might appeal more to first-time homebuyers or those looking to downsize. Rental investments may also be lucrative due to increased migration to the area and thus higher rental demand.
Future Market Outlook
Given the solid year-over-year growth rates for both houses and apartments, as well as robust population increases, Ingomar’s real estate market outlook appears favorable. Should these trends continue, investors can reasonably expect ongoing appreciation in property values. As more Canadians look towards suburban and rural living environments post-pandemic, markets like Ingomar stand to benefit from sustained interest.
However, potential investors should keep an eye on broader economic indicators such as employment rates and regional development projects that could influence future growth trajectories. Additionally, any changes in mortgage rates could affect buyer affordability and therefore impact the real estate market dynamics.
