Plympton, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $430,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $370,000 |
| 3 bedrooms | $475,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| 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 Plympton, Nova Scotia, is currently experiencing a period of moderate growth. With a median house price standing at $520,000 and exhibiting a 3.2% increase year-over-year, the market is showing signs of continued demand. Similarly, the apartment sector also reflects stable growth with a median price of $315,000, which has risen by 2.5% from the previous year.
Plympton’s population has grown by 3.3%, indicating an influx of new residents and potential homebuyers or renters. This demographic trend is likely contributing to the steady appreciation in property values as demand for housing increases. The balance between supply and demand will be crucial in maintaining healthy market conditions.
Investment Opportunities and Potential
Investment opportunities in Plympton are promising due to the consistent growth in property values and population. For investors looking at long-term capital gains, purchasing residential properties could be advantageous given the positive trajectory of house and apartment prices.
Rental properties could also present a viable investment strategy as the increasing population may lead to higher demand for rental units. Investors should consider areas within Plympton that are likely to appeal to incoming residents, such as proximity to amenities, schools, and transportation links.
Future Market Outlook
The future outlook for Plympton’s real estate market remains optimistic based on current trends. If population growth continues at its current pace of 3.3%, it can be expected that housing demand will sustain or possibly increase further.
However, investors and stakeholders should monitor external economic factors that might affect interest rates, employment levels, and overall economic health which can influence buyer affordability and market dynamics.
Staying informed about local developments, infrastructure projects, and community initiatives will also provide insight into areas that may experience higher-than-average growth or become emerging hotspots for investment within Plympton.
