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
The real estate market in Ingomar, Nova Scotia is currently experiencing a period of steady growth. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This indicates a healthy demand in the housing segment, with prices growing at a moderate pace. Similarly, the apartment sector is showing resilience with the median apartment price reaching $300,000 and witnessing a 2.1% year-over-year increment. These figures suggest that while the market is expanding, it has not entered a phase of rapid inflation which can often lead to market instability.
Ingomar’s population has seen a significant rise of 7.1%, which is likely contributing to the increased demand for housing. As more people move to the area, drawn by employment opportunities or the appeal of living in this part of Nova Scotia, we can expect continued support for both home ownership and rental markets.
Investment Opportunities and Potential
The consistent growth in property values coupled with the robust population increase positions Ingomar as an attractive location for real estate investment. Investors could potentially benefit from both capital appreciation and rental income in this market. Single-family homes remain the cornerstone of investment opportunities given their stronger appreciation trend. However, apartments also present a valuable entry point for investors looking to cater to individuals or smaller families who may prefer more affordable housing options or are not yet ready to purchase property.
Given that Ingomar’s real estate market has not experienced overheating, investments made now could be considered relatively low risk with the prospect of stable returns as the local economy and population continue to grow.
Future Market Outlook
The future outlook for Ingomar’s real estate market remains positive. The steady population growth suggests sustained demand for housing which should underpin both house and apartment prices. Assuming similar economic conditions persist, we can anticipate continued moderate growth in property values without the volatility seen in some larger Canadian markets.
Furthermore, as remote work becomes more prevalent and individuals look for quality of life outside urban centers, areas like Ingomar may benefit from an influx of new residents seeking community-oriented lifestyles. This demographic shift could provide further impetus to an already stable real estate environment.
To conclude, Ingomar’s real estate market presents promising opportunities for investors and homeowners alike, backed by consistent growth trends and sound economic fundamentals. Continual monitoring of market conditions will be essential to capitalize on emerging opportunities and navigate potential challenges that may arise in this dynamic landscape.