Noel, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
Median price | $490,000 |
Monthly growth | 1.1% |
Quarterly trend | 4.0% |
Stock on market | 0.6% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.5% |
Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $425,000 |
3 bedrooms | $490,000 |
4 bedrooms | $575,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $330,000 |
3 bedrooms | $420,000 |
Demographics
Current Population (2025) | 15,200 |
Previous Population (2020) | 14,500 |
Population Change | 4.8% |
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
The real estate market in Noel, Nova Scotia, is currently experiencing stable growth. With a median house price of $490,000 and an upward trend of 4% year-over-year, the market indicates healthy demand for single-family homes. Apartments in Noel are also showing a positive trajectory with a median price of $295,000 and a 2.5% increase over the past year. This steady growth aligns with the region’s population expansion of 4.8%, suggesting that Noel is becoming an increasingly popular place to live.
Investment Opportunities and Potential
Investors looking at Noel, Nova Scotia should consider both residential properties for long-term appreciation and rental units due to the area’s population growth. The current trends show that investing in single-family homes could yield higher returns, given the 4% annual increase in median house prices compared to the 2.5% rise in apartment prices. Rental properties may also be lucrative as the growing population drives demand for housing, potentially leading to increased rental rates and lower vacancy levels.
Future Market Outlook
The future of Noel’s real estate market appears promising. Assuming that the population continues to rise at a rate of 4.8%, we can anticipate sustained demand for housing in both purchase and rental markets. The steady appreciation in property values indicates a market with ongoing investment potential. As more people move to Noel, driven by its quality of life or economic opportunities, we expect the demand for real estate to remain robust, reinforcing positive long-term market prospects.