Yarmouth, 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 Yarmouth, Nova Scotia, is currently experiencing a stable growth pattern. With a median house price of $500,000 and an annual increase of 3.5%, the market is showing healthy appreciation. Similarly, the median apartment price stands at $300,000 with a slightly lower growth rate of 2.1% year-over-year. This divergence in growth rates indicates a more robust demand for houses over apartments.
The population of Yarmouth has seen a significant increase, growing by 7.1% to reach 15,000 residents. This influx has likely contributed to the steady demand for housing and the consistent rise in property values. The current trends suggest that the market is balanced, with both buyers and sellers able to transact at fair prices reflective of the underlying economic conditions.
2. Investment Opportunities and Potential
Investors considering Yarmouth’s real estate market can find potential in both residential properties and rental units. The consistent rise in property values indicates a healthy investment environment for those looking to purchase homes for long-term capital gains. Additionally, with population growth outpacing new housing developments, rental properties could become increasingly lucrative due to rising demand.
Given the current trends in price growth, investing in houses could offer greater returns than apartments; however, this will depend on individual investment strategies and goals. Investors should also consider local economic factors such as employment rates, infrastructure development, and tourism trends that may affect future property values.
3. Future Market Outlook
The future outlook for Yarmouth’s real estate market appears promising. The combination of steady price increases and strong population growth suggests that demand for housing will remain high. If this trend continues and is coupled with limited housing supply, it could lead to further acceleration in property value growth.
However, investors should be cognizant of broader economic conditions that could impact the market, such as interest rate changes or shifts in provincial or federal policies affecting homeownership. It’s crucial for investors to stay informed about local and national developments that may influence market dynamics.
In conclusion, Yarmouth’s real estate market shows potential for both immediate investment opportunities and long-term growth prospects. Careful consideration of individual properties and close monitoring of market trends will be key for successful investments.
