Kipisa, Nunavut 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 Kipisa, Nunavut, is currently experiencing moderate growth. The median house price in this region stands at CAD $500,000, with a year-over-year increase of 3.5%. This indicates a steady demand for houses, likely driven by the region’s economic fundamentals and a growing population.
Similarly, apartments are seeing a rise in value, with the median apartment price at CAD $300,000 and an annual appreciation trend of 2.1%. This suggests that smaller housing units are also in demand but perhaps with slightly less intensity than larger homes.
Investment Opportunities and Potential
Given the positive year-over-year trends for both houses and apartments in Kipisa, investment opportunities appear promising. The consistent appreciation of property values points to a robust market that could offer investors solid returns over time. The sustained population growth of 7.1% further supports the potential for rental properties as more people may seek housing in the area.
Investors may find particular value in targeting the middle of the market—properties around the median price points—as these homes are experiencing noticeable appreciation and are likely to appeal to the widest range of buyers or renters.
Future Market Outlook
The future outlook for Kipisa’s real estate market remains optimistic. The strong population growth coupled with consistent property value increases suggests that demand for housing will continue to rise. As long as economic conditions remain favorable and the population continues to grow at a healthy rate, it is reasonable to expect that both house and apartment prices may continue their upward trajectory.
However, investors should monitor local economic developments closely as changes in employment rates or major industry shifts could influence future market performance. Additionally, attention should be paid to government housing policies or infrastructure projects that could impact real estate dynamics in Kipisa.
In conclusion, current trends and statistics support a cautiously optimistic outlook for Kipisa’s real estate market. Investors should conduct thorough due diligence and consider both current conditions and potential changes to ensure their investment decisions are well-informed and aligned with their risk tolerance and investment goals.
