Lismore, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $475,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $475,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,850 |
| Population Change | 2.4% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Lismore, Nova Scotia, is showing a steady increase in property values. The median house price currently sits at $475,000, with a year-over-year growth of 3.2%. This incremental rise indicates a stable market that is attracting homeowners and investors alike. Similarly, the median apartment price has reached $295,000, with a slower yet consistent appreciation trend of 2.5% over the past year.
These statistics suggest that Lismore’s real estate market is experiencing sustainable growth. The population of the area has grown to 15,200 residents, reflecting a growth rate of 2.4%, which could be contributing to the demand for housing and the consequent increases in property prices.
Investment Opportunities and Potential
For investors considering Lismore’s real estate market, there are positive indicators that suggest potential for returns on investment. The steady growth in median house and apartment prices implies that purchasing property in this region can be a prudent long-term investment. Given the rising population and corresponding demand for housing, rental properties could offer steady income streams for investors.
Furthermore, the moderate but continuous appreciation in property values may provide capital gains over time. Investors looking to diversify their portfolio might find Lismore an attractive option due to its stability compared to more volatile markets.
Future Market Outlook
The outlook for the Lismore real estate market remains optimistic. With ongoing population growth and consistent increases in property values, it is expected that the demand for housing will continue to drive the market forward. Assuming no major economic disruptions occur, both house and apartment markets should maintain their upward trajectory.
Consequently, now could be an opportune moment for buyers to enter the market before prices potentially rise further. Those investing with a long-term perspective may find that current trends support a favorable return on investment scenario over the years to come in Lismore’s real estate landscape.
