Trafalgar, 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
In Trafalgar, Nova Scotia, the real estate market is currently experiencing a period of growth. The median house price stands at $500,000, marking a 3.5% increase year-over-year. This suggests a healthy upward trend in property values for single-family homes. Similarly, the median apartment price has risen to $300,000, with a 2.1% year-over-year increase. This indicates that the market for smaller, more affordable housing units is also growing, albeit at a slightly slower pace than houses.
The population of Trafalgar has reached 15,000 residents and is expanding rapidly with a 7.1% growth rate. This significant population increase is likely contributing to the demand for housing in the area and may be driving up property prices as a result.
Investment Opportunities and Potential
The robust population growth paired with consistent appreciation in property values presents attractive investment opportunities in Trafalgar. Single-family homes, given their stronger appreciation rate of 3.5%, could offer higher returns for investors focused on long-term capital gains. The steady increase in apartment prices also suggests that there is potential for investors looking to enter the rental market or offer more affordable housing options.
Investors should consider factors such as location within Trafalgar, proximity to amenities and services, and future infrastructure developments when assessing potential properties. As the population continues to grow, demand for conveniently located and well-serviced properties is likely to rise.
Future Market Outlook
The future market outlook for Trafalgar’s real estate appears promising. With an ongoing trend of population growth and rising property prices, it is reasonable to anticipate continued demand for housing in both the private sale and rental markets. Should the current trends persist, investors can expect ongoing appreciation in property values.
However, potential investors must also remain vigilant about economic factors that could affect the market conditions such as interest rate changes, employment rates in the region, and broader economic policies that influence consumer purchasing power.
In conclusion, Trafalgar’s current growth trajectory coupled with its increasing property values suggests that it holds considerable potential for real estate investment now and in the foreseeable future.
