Tatamagouche, 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 Tatamagouche, Nova Scotia, is experiencing a period of steady growth, as indicated by the current median house price of $500,000, reflecting a year-over-year increase of 3.5%. This growth rate suggests a stable market with moderate appreciation in property values. Apartments in the region are also seeing an uptrend, with the median price sitting at $300,000 and witnessing a 2.1% year-over-year price increase.
The market is characterized by a growing demand for housing, largely driven by the local population growth of 7.1%. This influx of residents is likely contributing to the consistent rise in property values as more people seek homeownership or rental options within the area. The current trends point towards a healthy balance between supply and demand, allowing for sustainable growth in property prices without signs of overheating.
2. Investment Opportunities and Potential
Investment opportunities within Tatamagouche’s real estate market appear promising due to the steady population increase and consistent property value appreciation. Investors looking to purchase residential properties can anticipate continued demand, particularly if this growth persists. Single-family homes remain attractive due to their higher median price and greater appreciation rate compared to apartments.
For those interested in rental properties, apartments offer a lower entry point at $300,000 and have shown reliable year-over-year growth. The ongoing population expansion could lead to an increased need for rental accommodations, potentially driving up rental income and yields for investors.
Moreover, with Tatamagouche being part of Nova Scotia’s scenic landscape, there may be untapped potential in vacation rentals or developments that cater to tourism, which could diversify an investor’s portfolio and provide alternative revenue streams.
3. Future Market Outlook
The future outlook for Tatamagouche’s real estate market remains optimistic given the strong underlying fundamentals. If the current 7.1% population growth trend continues or accelerates, it could further fuel demand for housing in both purchase and rental markets. Assuming economic conditions remain favorable and interest rates stable, this demand should underpin ongoing property value appreciation.
However, investors should stay informed about local economic developments and any changes in provincial policies that may impact the real estate market. Infrastructure improvements or industrial investments in the area could also alter market dynamics positively by creating jobs and attracting more residents.
In conclusion, while current trends suggest a healthy and growing real estate market in Tatamagouche with good investment potential, like all markets it is subject to fluctuating external conditions that require investors to remain vigilant and adaptable.
