Morden, 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 Morden, Nova Scotia is currently experiencing steady growth. With a median house price sitting at $500,000, the market has seen a year-over-year increase of 3.5%. This indicates a healthy demand for housing in the area, which is further supported by the region’s population growth of 7.1%. The median apartment price in Morden is currently at $300,000, with a slightly lower year-over-year increase of 2.1%. Apartments are appreciating at a more modest rate compared to houses, suggesting that the demand for houses could be outpacing that for apartments.
Investment Opportunities and Potential
The investment landscape in Morden appears promising, particularly for those looking to invest in single-family homes. The consistent appreciation in house prices suggests that there is ongoing interest and confidence in the market. For investors focused on rental properties or looking for more affordable entry points, apartments offer an opportunity with their lower median price point and positive appreciation trend.
The significant population growth is also an essential factor to consider as it often leads to increased rental demand. This demographic trend can be leveraged by investors aiming to capitalize on both short-term rental income and long-term capital gains.
Future Market Outlook
The future outlook for Morden’s real estate market looks optimistic. Given the current trends and the robust population growth, it is reasonable to anticipate continued demand for housing in the area. This could lead to sustained or possibly increased rates of property value appreciation over the next few years.
As more people move to the area, attracted by employment opportunities or lifestyle changes, we may see further development projects initiated to meet housing needs. Such developments could provide additional investment opportunities and potentially diversify the types of properties available on the market.
In conclusion, Morden’s real estate market appears robust with an upward trajectory supported by strong fundamentals such as steady price growth and significant population increases. Investors should continue monitoring local economic factors and development plans that may impact these trends moving forward.
