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Goldboro, 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





Goldboro, Nova Scotia Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Goldboro, Nova Scotia is currently experiencing moderate growth. The median house price in the area stands at $500,000, marking a 3.5% increase year-over-year. This suggests a steady demand for detached homes, which could be attributed to both local buyers and those looking to move into the area.

Similarly, the apartment sector is also seeing growth, albeit at a slower pace, with median prices around $300,000 and an annual trend increase of 2.1%. This slower rate of increase might indicate a more saturated market or a preference for detached homes in the current economic climate.

The population of Goldboro has recently reached approximately 15,000 residents, with a notable growth rate of 7.1%. Population growth often leads to increased demand for housing, suggesting that both the rental and buyer markets may see continued expansion.

Investment Opportunities and Potential

The positive trends in population growth combined with steady increases in property values present attractive investment opportunities in Goldboro. Investors looking to capitalize on the growing housing demand may find long-term capital gains in purchasing residential properties now before prices potentially increase further.

The single-family home market, with its higher year-over-year price increase, could offer stronger appreciation potential. However, apartments should not be overlooked as they provide an accessible entry point for first-time investors or those with limited capital.

Developers might also see potential in new construction projects to meet the rising demand fueled by population growth. With careful consideration of location and consumer preference, investments in creating new residential units could yield substantial returns.

Future Market Outlook

Moving forward, the real estate market in Goldboro appears poised for continued growth. With the ongoing population increase and sustained demand for housing, property prices are likely to maintain their upward trajectory. The current trends suggest that investing now could be beneficial for both short-term gains through flipping properties or long-term investment strategies like buy-and-hold rental units.

However, it is essential for investors to monitor external economic factors that could impact interest rates and borrowing costs. Any significant changes could affect buyer affordability and consequently influence market dynamics.

In conclusion, while there are always uncertainties in real estate forecasting, Goldboro’s current data indicates a healthy market with room for expansion and investment possibilities.