Londonderry, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.8% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $415,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| 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 Londonderry, Nova Scotia is currently experiencing steady growth. The median house price stands at CAD $495,000, reflecting a year-over-year increase of 3.8%. This suggests a healthy demand for residential properties and a stable investment environment. Similarly, the median apartment price has risen to CAD $295,000, which equates to a rise of 2.5% from the previous year.
These statistics indicate a consistent appreciation in property values across Londonderry. The population has also seen a significant growth of 3.4%, which could be contributing to the increased housing demand and subsequent price trends. The market is showing signs of being seller-friendly due to these rising prices and growing demand.
Investment Opportunities and Potential
The growing population and increasing property values present numerous opportunities for investors in Londonderry’s real estate market. The consistent uptrend in house and apartment prices signifies strong capital gain potential for long-term real estate investments.
Investors looking to capitalize on rental income may find apartments especially attractive given their lower entry price point of CAD $295,000 compared to houses. With the population on the rise, there is potential for an increasing pool of renters, which could lead to higher rental yields over time.
In addition, the steady growth in property values can provide investors with confidence in the market’s stability and future potential for appreciation. This makes Londonderry an attractive location for both residential property investors and those interested in commercial real estate ventures.
Future Market Outlook
The future real estate market outlook for Londonderry, Nova Scotia remains optimistic. Given the current trends of population growth and rising property values, it’s reasonable to expect that the demand for housing will continue to increase.
The 3.4% increase in population indicates a burgeoning community that might attract further development projects and infrastructure improvements. These factors are likely to stimulate the local economy and could lead to enhanced attractiveness of Londonderry as a place to live and invest.
Assuming no significant economic disruptions occur, the steady rise in median house and apartment prices suggests that the market is poised for continued growth. Investors should monitor local economic drivers such as employment rates, new business openings, and government policies closely as these indicators can influence future market conditions significantly.
In conclusion, Londonderry presents an appealing real estate market with solid prospects for both immediate investment returns through rental income and long-term asset appreciation. Caution should be exercised as with any investment; however, current data portrays a favourable environment for entering the Londonderry real estate market.
