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, currently presents a stable growth environment. With a median house price of $500,000 and an upward year-over-year trend of 3.5%, the market is experiencing modest appreciation. The median apartment price stands at $300,000, following a more modest growth trend of 2.1% year-over-year. These trends indicate a steady demand and a relatively balanced market.
The population of Morden has reached 15,000, and with a significant population growth of 7.1%, there is likely to be sustained demand for housing in the region. This demographic trend suggests that the market is buoyed by an influx of new residents, potentially due to economic opportunities or lifestyle choices that the area offers.
Investment Opportunities and Potential
The steady market growth presents investors with reliable investment opportunities. The consistent increase in property values suggests that purchasing residential real estate could yield capital gains over time. Given the population growth rate and corresponding demand for housing, rental properties may also offer attractive returns in terms of rental income.
Investors should consider both single-family homes and apartments as viable investment vehicles in Morden’s real estate market. Single-family homes are especially appealing due to their higher appreciation rate. However, apartments may offer lower barriers to entry for investors while still providing opportunities for equity growth and rental income.
Future Market Outlook
Looking ahead, the future market outlook for Morden remains positive. The combination of steady price growth, robust population increase, and manageable property prices compared with larger markets makes this region particularly attractive for long-term investment.
Should the current trends continue, investors could expect ongoing appreciation in property values coupled with strong rental demand. However, as with any real estate investment, potential changes in economic conditions or local policies should be monitored closely to manage risks effectively.
In conclusion, Morden’s real estate market demonstrates healthy indicators for both current stability and future growth potential. Its growing population base combined with steady increases in property values offers promising opportunities for investors looking to capitalize on Nova Scotia’s expanding real estate landscape.
