Ingramport, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Ingramport, Nova Scotia, is currently characterized by steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing resilience and moderate appreciation. This trend reflects a healthy demand for housing in the area. The apartment sector, with a median price of $300,000, is experiencing a slightly lower growth rate of 2.1% year-over-year. This difference may indicate a stronger preference or demand for single-family homes over apartments in this market.
The population of Ingramport has seen a significant increase of 7.1%, suggesting an influx of new residents and potential homebuyers. This demographic shift could be driving the demand for housing and may continue to support the steady price growth observed in the market.
Investment Opportunities and Potential
Given the ongoing upward trend in property values and the robust population growth, Ingramport presents attractive investment opportunities. Investors considering entering this market can expect continued demand for both rental properties and homes for sale, particularly as the population expands.
The consistent rise in house prices indicates that single-family homes represent a potentially secure investment with reasonable capital appreciation prospects. Similarly, apartments offer investment potential but with slightly less capital appreciation based on current trends; however, they may cater to different segments of the market such as young professionals, small families, or those looking to downsize.
With increasing population figures, there may also be an opportunity to develop new housing projects or renovate existing properties to cater to the growing need for residential units. Such developments could capitalize on both short-term construction profits and long-term property value appreciation.
Future Market Outlook
Looking ahead, several factors suggest that Ingramport’s real estate market has a positive outlook:
- Population Growth: The strong population growth rate provides a solid foundation for sustained demand in real estate.
- Steady Price Increases: The consistent growth in property values points towards a stable market with ongoing investment opportunities.
- Economic Factors: While not directly provided here, local economic conditions such as employment rates and income levels should also be considered when forecasting future performance.
If current trends persist, investors can remain cautiously optimistic about the market’s potential for continued growth. However, it is essential for investors to keep abreast of any changes in local economic indicators or shifts in national real estate policies that might impact the future performance of Ingramport’s housing market.
