Plympton, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| 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 steady growth. With a median house price of $525,000 and an annual increase of 4%, the market is showing healthy upward momentum. Similarly, the apartment sector has also seen growth with a median price of $320,000 and a year-over-year price trend of 2.5%. This consistent appreciation in property values indicates a solid demand for housing in the region.
The population of Plympton stands at approximately 15,500 residents and has been growing at a rate of 3.3%. This population growth is indicative of Plympton’s increasing attractiveness as a residential area and is likely contributing to the sustained demand for housing.
Investment Opportunities and Potential
In terms of investment potential, Plympton offers promising opportunities for both residential and rental markets. The steady increase in both house and apartment prices suggests that investments in real estate could yield favorable returns over time. Additionally, the positive population growth trend presents potential for rental properties to meet the demand from new residents seeking accommodation.
Investors should note that the current trends favor long-term investment strategies, as the consistent growth pattern rewards patience and stability over quick flips or short-term speculation. Moreover, the diversification into vacation rentals or developments catering to specific demographics like retirees or young professionals may further enhance profitability given Plympton’s varied demographic appeal.
Future Market Outlook
The outlook for Plympton’s real estate market remains optimistic. The ongoing population increase coupled with economic stability points towards sustained demand for housing. Assuming no major economic disruptions occur, the market is expected to continue its upward trajectory.
Continued investment in infrastructure and community amenities can further boost property values as quality of life improvements often translate into increased real estate desirability. Investors and homebuyers alike should monitor local development plans, as these can signal areas poised for significant growth.
In conclusion, Plympton’s real estate market exhibits strong fundamentals with a positive trajectory ahead. Stakeholders are advised to consider long-term horizons when engaging with this market to capitalize on its full potential.
