Yarmouth, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $410,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Yarmouth, Nova Scotia
Yarmouth, Nova Scotia, presents a real estate market currently characterized by moderate price increases. The median house price in the region stands at $495,000, marking a 3.2% year-over-year growth. Meanwhile, apartments have a median price tag of $295,000 with a slightly lower appreciation rate of 2.5% over the past year. These trends indicate a steady market that has not experienced overheating, suggesting stability and sustainable growth.
The population of Yarmouth is approximately 15,000 residents, with a notable growth rate of 7.1%. This demographic expansion is likely contributing to the steady demand for housing in the area and potentially signaling a robust future for local real estate investments. The current market conditions are favorable for both buyers seeking long-term value and sellers looking to capitalize on the gradual appreciation of their properties.
Investment Opportunities and Potential in Yarmouth
Yarmouth’s real estate market offers promising investment opportunities. The steady increase in property values coupled with significant population growth suggests an enduring demand for housing. Investors may find particular potential in the single-family home segment given the stronger year-over-year price trend compared to apartments.
With current conditions favoring gradual appreciation, investors could benefit from both rental income and capital gains over time. Additionally, the relatively modest median prices for houses and apartments can serve as accessible entry points for both novice and seasoned investors. As population growth tends to drive infrastructure development and economic expansion, early investment in Yarmouth’s real estate could position investors to take advantage of these collateral benefits.
Future Market Outlook for Yarmouth Real Estate
The future outlook for the Yarmouth real estate market appears optimistic based on current data. With a strong population growth rate of 7.1%, it is reasonable to anticipate continued demand for housing which should support further property value increases. While current trends show moderate price growth, this could accelerate if the population increase leads to greater demand than supply can meet.
Careful monitoring of new housing developments and local economic policies will be essential for accurately predicting future trends. If supply keeps pace with demand, Yarmouth may maintain its pattern of steady growth without encountering issues such as housing shortages or inflated prices due to speculation.
In conclusion, careful investment considering long-term trends and continuous monitoring of market conditions could yield positive returns in Yarmouth’s evolving real estate landscape.
