Milton, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Milton, Nova Scotia, is currently characterized by a steady increase in property values. The median house price stands at $500,000, reflecting a year-over-year growth rate of 3.5%. This indicates a stable market with consistent demand for single-family homes. Similarly, the apartment sector has seen a moderate appreciation in value, with median prices at $300,000 and an annual growth rate of 2.1%. This slower pace compared to houses suggests a softer but still positive trend for multi-family dwellings.
The population of Milton has reached approximately 15,000 residents, experiencing a robust growth rate of 7.1%. This demographic expansion is a strong driver for housing demand, contributing to the overall health of the real estate market in the area.
Investment Opportunities and Potential
The current trends indicate that Milton presents several attractive opportunities for real estate investors. The solid growth in property values coupled with substantial population increases suggests that both rental and sale markets could be promising investment avenues. The more significant increase in house prices compared to apartments may appeal to investors looking for potentially higher capital gains on resale.
Given the steady growth pattern, long-term investments in residential properties could benefit from ongoing appreciation. Moreover, the rising population hints at potential for new developments or renovations of existing properties to cater to the housing needs of an expanding community.
Future Market Outlook
Looking forward, the Milton real estate market appears poised for continued growth. Assuming that current economic conditions persist and with the town’s strong population growth rate remaining constant or improving, it is reasonable to anticipate further appreciation in property values across both houses and apartments.
The sustained demand driven by population growth should also underpin rental markets, potentially leading to higher occupancy rates and rental yields for investors. Additionally, if infrastructure development and employment opportunities keep pace with population trends, Milton could see an even more robust real estate market conducive to investment.
In conclusion, while any market carries inherent risks and external factors such as broader economic conditions can affect local trends, current data suggests that Milton’s real estate market is on a positive trajectory. Investors and homeowners should stay attuned to local changes but may find this market an attractive option for their portfolios or personal residences.
