Margaretsville, 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 | $310,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 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 | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Margaretsville, Nova Scotia, the real estate market is currently characterized by moderate growth. The median house price in this community stands at $495,000, marking a year-over-year increase of 3.2%. This suggests a steady demand for housing, likely driven by the area’s natural beauty and appeal to both residents and those looking for vacation properties.
The market for apartments is somewhat less robust but still shows positive momentum, with a median price of $310,000 and a year-over-year increase of 2.5%. This slower growth rate may be indicative of a smaller rental market or less turnover in apartment properties.
Margaretsville’s population has experienced significant growth, with an increase of 3.4%, bringing the population to roughly 15,000. This growth can have multiple effects on the local real estate market, potentially increasing demand for both ownership and rental properties.
Investment Opportunities and Potential
The steady increase in property values coupled with population growth suggests that Margaretsville offers promising investment opportunities. Investors might consider single-family homes due to their higher appreciation rate or look towards multi-unit residential buildings to cater to the growing population.
The consistent rise in median home prices also indicates a stable market where investments are likely to maintain or increase in value over time. Additionally, the trend towards remote work could make Margaretsville an attractive option for those seeking lifestyle changes while investing in real estate.
Future Market Outlook
The future outlook for Margaretsville’s real estate market remains optimistic. The ongoing population growth is expected to continue fueling demand for housing. If this trend persists alongside economic development initiatives in the region, the market could experience further dynamism and potential price increases.
A cautious eye should be kept on economic indicators that might affect disposable income and employment levels, as these factors will play crucial roles in sustaining the current upward trajectory of property values. However, given current trends and statistics, Margaretsville appears poised for continued growth in its real estate sector.
