Lismore, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
Median price | $495,000 |
Monthly growth | 1.1% |
Quarterly trend | 3.2% |
Stock on market | 0.7% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.0% |
Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $495,000 |
4 bedrooms | $580,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $330,000 |
3 bedrooms | $420,000 |
Demographics
Current Population (2025) | 15,200 |
Previous Population (2020) | 14,500 |
Population Change | 4.8% |
Total Private Dwellings | 6,200 |
Occupied Private Dwellings | 5,700 |
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 currently experiencing steady growth. With a median house price of $495,000, the market has seen a year-over-year increase of 3.2%. This points to a healthy demand for housing in the area. Similarly, the median apartment price stands at $295,000, with a more modest year-over-year growth of 2%. The population of Lismore has grown to 15,200 residents, which represents a significant growth rate of 4.8%. This influx of new residents is likely contributing to the sustained demand for housing and the consequent upward pressure on prices.
Investment Opportunities and Potential
In light of the current market trends, Lismore offers promising investment opportunities for both residential properties and rental units. Given the steady appreciation in property values, investors may find potential in purchasing single-family homes or apartments to capitalize on capital gains over time. The rental market might also be appealing due to the growing population, which could lead to an increased demand for rental accommodations. As prices continue to rise moderately, it is an opportune time for investors to enter the market before potential higher rates of appreciation set in.
Future Market Outlook
The future outlook for Lismore’s real estate market remains optimistic. Considering the solid population growth and corresponding demand for housing, we can expect property values to maintain their upward trajectory, albeit at a sustainable pace. The 3.2% increase in house prices and 2% increase in apartment prices suggest that the market is growing healthily without signs of overheating. Continued investment in local infrastructure and amenities by municipal authorities could further enhance property values and quality of life in Lismore, making it an attractive location for both residents and investors alike.