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 experiencing steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%. This indicates a healthy demand for single-family homes in the area. Similarly, the median apartment price is currently at $300,000, with a slower yet positive year-over-year trend of 2.1%. These figures suggest that while the housing market is more dynamic, the apartment segment is also growing but at a more modest pace.
The population in Ingramport stands at 15,000 residents and has shown significant growth at a rate of 7.1%. This demographic expansion is a foundational driver for housing demand and suggests that the market could continue to see upward pressure on real estate prices as more people seek accommodation in the region.
Investment Opportunities and Potential
Given the current trends in population growth and real estate price increases, Ingramport presents attractive investment opportunities. The consistent rise in property values indicates that investments in residential real estate could yield favorable returns over time. The higher growth rate in house prices compared to apartment prices may appeal particularly to investors looking for properties with potentially higher capital gains.
For those interested in rental properties, the population growth suggests a growing rental market with potential for both short-term returns through rental income and long-term asset appreciation. Investors should also consider diversifying their portfolios by investing in both houses and apartments to capitalize on different segments of the market.
Future Market Outlook
The future real estate market outlook for Ingramport remains optimistic. Current trends point towards continued growth driven by demographic factors and sustained interest from homebuyers and investors alike. If population growth maintains its current trajectory, it will likely further stimulate housing demand, potentially leading to increased property values over time.
However, investors should stay informed about local economic developments and any changes in provincial or federal housing policies that may impact the market. It’s also important to consider potential risks such as economic downturns or shifts in migration patterns which could affect demand.
In conclusion, Ingramport’s real estate market shows promising signs for both homebuyers and investors. With careful consideration of market data and trends, stakeholders can make informed decisions to take advantage of current opportunities and optimize for future growth potential.
