Ingonish, 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 Ingonish, Nova Scotia
In Ingonish, Nova Scotia, the real estate market is currently characterized by a steady growth in property values. The median house price stands at $500,000, which reflects a year-over-year increase of 3.5%. This indicates a healthy demand for single-family homes in the area, suggesting that the market is favorable for sellers while still offering reasonable entry points for buyers. The apartment market is also showing positive momentum with the median price at $300,000 and experiencing a slightly lower year-over-year growth of 2.1%. This growth trajectory is supported by Ingonish’s population of 15,000, which has seen a significant rise with a 7.1% population growth, signaling potential increased demand for housing.
Investment Opportunities and Potential in Ingonish, Nova Scotia
The current trends in Ingonish’s real estate market offer various opportunities for investors. With population growth outpacing the national average, it suggests a burgeoning demand for rental properties, making multifamily apartments an attractive investment option. The modest yet consistent appreciation in apartment prices could yield solid returns for long-term investors. Additionally, the single-family home segment offers potential for both capital gains and rental income given the steady increase in median house prices. As more people move to Ingonish, seeking community-oriented lifestyles or telecommuting opportunities, properties that can cater to these needs may also see an uptick in value.
Future Market Outlook for Ingonish, Nova Scotia
The future real estate market outlook for Ingonish appears promising. The robust population growth suggests an ongoing influx of residents that will likely drive housing demand higher. Given the current upward trend in property values and the region’s attractiveness as a lifestyle destination, we can reasonably expect continued moderate growth in both the house and apartment markets. However, investors and potential homeowners should monitor local economic factors and infrastructure developments as these will play crucial roles in shaping the future real estate landscape of Ingonish.
In conclusion, Ingonish presents an appealing market with steady growth prospects for both residential properties and rental investments. Stakeholders should remain vigilant about regional economic changes but can be cautiously optimistic about the region’s real estate potential moving forward.
