Selma, 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 (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
As of the latest data available, Selma, Nova Scotia exhibits a stable and growing real estate market. The median house price in the region stands at $500,000, which indicates a moderate level of affordability relative to national standards. Notably, this figure has seen a year-over-year increase of 3.5%, suggesting a healthy appreciation in property values. In contrast, the median apartment price is currently $300,000, with a slightly slower growth rate of 2.1% year-over-year.
The population of Selma has experienced significant growth, with an increase of 7.1%, which is considerably higher than the national average. This demographic shift is likely influencing the demand for housing and contributing to the observed price trends.
Investment Opportunities and Potential
The steady climb in house prices coupled with robust population growth positions Selma as an attractive location for real estate investment. Single-family homes are particularly promising due to their higher appreciation rate compared to apartments. The sustained population increase suggests that rental properties might also be in high demand, potentially leading to favorable rental yields for investors.
For those considering apartment investments, while the appreciation rate is more modest compared to houses, it still outpaces inflation, indicating that such investments can maintain or increase their real value over time. Additionally, apartments may cater to smaller households or individuals drawn by employment opportunities or the area’s amenities.
Future Market Outlook
The future real estate market outlook for Selma appears optimistic based on current trends and demographic projections. Given the steady population growth and ongoing housing demand, both the median house and apartment prices are poised for continued growth. The robust year-over-year price increases suggest that Selma’s market will remain buoyant in the near term.
Investors should monitor potential economic developments that could impact migration patterns and employment rates as these factors will influence future real estate dynamics. However, assuming consistent local economic performance and continued desirability of the area, Selma’s real estate market is expected to maintain its positive trajectory.
