Tangier, 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
1. Current Market Conditions and Trends
The real estate market in Tangier, Nova Scotia is currently experiencing a steady increase in property values. With the median house price situated at $500,000, the market is seeing a healthy year-over-year growth of 3.5%. This suggests a robust demand for single-family homes and a competitive market environment for buyers.
Apartments in Tangier are slightly more accessible, with a median price of $300,000. The apartment sector is also growing but at a more modest pace, with a 2.1% year-over-year price increase. This indicates a stable investment environment for those looking to enter the real estate market through smaller investment properties or for individuals seeking affordable housing options.
The population of Tangier stands at 15,000 residents, which has been on the rise with an impressive growth rate of 7.1%. This demographic expansion can be seen as both a cause and an effect of the thriving real estate market, as it provides a continual influx of potential homebuyers and renters.
2. Investment Opportunities and Potential
The current trends in Tangier’s real estate market present various investment opportunities. The consistent increase in house and apartment prices suggests that investors purchasing property now would likely see capital appreciation over time. Single-family homes represent an opportunity for both long-term equity gains and rental income potential due to their higher demand and value appreciation.
Apartments offer a lower barrier to entry for new investors and are particularly appealing due to Tangier’s population growth, which may translate into sustained rental demand. Investors should consider both short-term rental strategies to capitalize on tourism (if applicable) and long-term strategies aimed at local residents.
Moreover, with population growth outpacing national averages, there is potential for new development projects to meet housing demands. Investors with the capacity for larger projects might explore opportunities in building new residential units or renovating existing structures to cater to the expanding population.
3. Future Market Outlook
The future of Tangier’s real estate market looks promising based on current trends and demographic indicators. If the population continues to grow at the reported rate, demand for housing will likely sustain or increase, which should continue driving property values upward.
Careful monitoring of economic factors such as employment rates, infrastructure developments, and interest rates will be crucial for predicting long-term trends accurately. However, barring any significant negative economic shifts or policy changes that affect housing affordability or desirability, Tangier’s real estate market appears poised for continued growth.
Investors and homeowners alike should remain optimistic about the future value of their properties while staying informed on local and national economic developments that could impact the market dynamics in Tangier.
