Malagash, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
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 | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 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 in Malagash, Nova Scotia
The real estate market in Malagash, Nova Scotia, has been experiencing consistent growth, as evidenced by the current median house price of $485,000. This represents a year-over-year increase of 4%, indicating sustained demand for residential properties in the area. Similarly, the apartment sector is also showing positive momentum with a median price point of $295,000 and a growth trend of 2.5% over the past year.
Malagash’s population has recently seen a significant uptick of 4.8%, suggesting an influx of new residents and potential homebuyers. This demographic shift is likely contributing to the competitive nature of the local real estate market, as demand for housing continues to rise.
Overall market conditions show a healthy balance between supply and demand, with pricing trends reflecting steady appreciation. This trend is expected to continue as more individuals are drawn to Malagash’s vibrant community and picturesque surroundings.
Investment Opportunities and Potential in Malagash
The progressive increase in property values presents lucrative investment opportunities in Malagash. The housing market shows strong potential for investors looking to purchase residential properties that are likely to appreciate further. Rental properties are also an attractive option given the population growth, as new residents may seek temporary housing solutions before committing to homeownership.
Investors should consider both single-family homes and apartments due to their differing appreciation rates. While houses have displayed a higher year-over-year price increase at 4%, apartments provide a more accessible entry point into the real estate market with their lower median price but still offer a decent appreciation rate at 2.5% year-over-year.
The current trends suggest that early investment could yield substantial returns as the local economy expands and housing demand continues to grow alongside the increasing population.
Future Market Outlook for Malagash Real Estate
The future outlook for Malagash’s real estate market remains optimistic based on current trends and demographic data. With a robust population growth rate of 4.8%, it is anticipated that housing demand will persist, potentially leading to further increases in property values over time.
The region’s attractiveness due to its natural beauty, coupled with ongoing local economic development initiatives, suggests that Malagash will continue to draw new residents seeking quality of life improvements. This influx is expected to support the real estate market’s continued health by maintaining demand for both purchasing and renting properties.
In conclusion, investors and homebuyers can be cautiously optimistic about the prospects of Malagash’s real estate market, considering its recent performance and promising indicators for sustained growth in the foreseeable future.
