Merigomish, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 1.0% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.3% |
| Stock on market | 1.1% |
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 | $335,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.7% |
| 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 Merigomish, Nova Scotia, the real estate market is currently experiencing steady growth. The median house price stands at $485,000, which represents a 4% year-over-year increase. This growth indicates a healthy demand for single-family homes in the area. On the other hand, apartments are showing a more modest increase in value with the median price at $295,000, up by 2.3% from the previous year. These trends suggest that while the market is growing, it isn’t overheating, making it an attractive location for potential homeowners and investors alike.
Investment Opportunities and Potential
The investment potential in Merigomish is underscored by its consistent population growth, currently at 2.7%. This demographic expansion contributes to sustained demand for housing. Given the moderate price appreciation rates for both houses and apartments, investors may find long-term capital gains prospects coupled with rental income opportunities particularly appealing. The slower pace of apartment price increases compared to houses suggests there might be untapped potential in the multi-unit residential sector.
Future Market Outlook
The future outlook for Merigomish’s real estate market appears promising. With ongoing population growth and a stable economic backdrop, demand for housing is expected to remain strong. Assuming that local employment opportunities continue to expand and interest rates remain relatively low, both the single-family home market and apartment sectors should see sustained interest from buyers and renters. However, investors should monitor economic indicators closely as changes could affect market dynamics and rate of appreciation.
