Goffs, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Goffs, Nova Scotia is currently exhibiting steady growth. With a median house price of $500,000 and a positive year-over-year trend of 3.5%, the market is showing resilience and upward momentum. Similarly, apartments in the area are experiencing growth, albeit at a slightly slower pace, with a median price of $300,000 and an annual increase of 2.1%. This consistent appreciation in property values reflects a healthy demand for housing in the region.
The population of Goffs has reached 15,000 residents, with a robust growth rate of 7.1%. This significant influx of new residents is likely contributing to the sustained demand for housing and could be indicative of broader economic opportunities in the area that are attracting individuals and families alike.
2. Investment Opportunities and Potential
Given the growth trends in both population and property values, Goffs presents several attractive investment opportunities. The persistent increase in median house prices suggests that purchasing residential real estate could yield solid returns as the market continues to expand. For investors looking at rental properties or developments, the burgeoning apartment sector could also provide fruitful ventures considering its positive trajectory.
The strong population growth underscores not only a rising need for housing but also potential expansion in related sectors such as retail, services, and infrastructure development. Investors might explore these ancillary areas to capitalize on the overall economic development within Goffs.
3. Future Market Outlook
The future market outlook for Goffs appears promising based on current trends and data. The consistent rise in property values coupled with substantial population growth suggests that demand for real estate will remain high. Barring any unforeseen economic shifts or policy changes that could affect market dynamics, investors can reasonably expect continued appreciation in property values over the coming years.
However, it is important to monitor both local and national economic indicators closely as they can have significant impacts on regional real estate markets. Factors such as interest rates, employment rates, and overall economic health play critical roles in shaping market conditions.
In summary, Goffs presents a dynamic environment with strong investment potential for those looking to enter or expand their presence in the Nova Scotia real estate market.
