Seafoam, 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 | $420,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $325,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 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 Seafoam, Nova Scotia, is currently experiencing a period of steady growth. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This suggests a healthy demand for single-family homes, likely driven by the region’s attractive lifestyle offerings and the broader national housing trends. Similarly, the median apartment price has reached $300,000, with a more modest annual growth rate of 2.1%. These figures indicate a stable market that is growing at a sustainable pace.
With a population of 15,000 that has grown by 7.1%, Seafoam is attracting new residents at a notable rate which could be attributed to its economic opportunities or quality of life enhancements. This influx is likely contributing to the demand for housing and can be a precursor to increased investment in infrastructure and services.
Investment Opportunities and Potential
In terms of investment opportunities, the steady growth in house prices combined with significant population increases suggests that Seafoam could offer promising returns for both residential and rental property investments. The current trends point towards a continued demand which may lead to strong occupancy rates for investors in rental properties.
The more modest growth rate in apartment prices also presents an opportunity for investors looking to enter the market at a lower price point while still capitalizing on the general upward trajectory of real estate values in the area. Moreover, as the population continues to grow, there may be increased demand for diverse types of housing, including townhouses and condominiums.
Future Market Outlook
Looking forward, the Seafoam real estate market appears poised for continued growth. Assuming that current economic conditions persist and the area remains attractive to both retirees and working professionals alike, we can reasonably expect further increases in property values. However, potential investors should also be mindful of broader economic trends such as interest rates changes or shifts in provincial policies that may influence buyer affordability and real estate market dynamics.
The significant population growth presents both challenges and opportunities: it could lead to increased demand for housing and services but might also necessitate careful urban planning to maintain the quality of life that attracts residents to Seafoam. The sustained increase in median house prices indicates buyer confidence and an optimistic outlook on property value appreciation over the long term.
In conclusion, Seafoam offers robust investment potential with its escalating house prices complemented by substantial population growth. Investors should monitor local developments closely while considering long-term strategies that align with ongoing demographic trends.
