Goldboro, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $290,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,000 |
| Population Change | 5.1% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Goldboro, Nova Scotia, the real estate market is experiencing steady growth. The median house price currently stands at $485,000, reflecting a year-over-year increase of 3.2%. This indicates a stable market that is appreciating at a moderate pace. Similarly, the median apartment price has seen an uptick to $290,000, showing a smaller yet consistent year-over-year growth of 1.9%. This suggests that while houses are in higher demand leading to greater increases in value, apartments are also seeing positive movement in prices.
The population of Goldboro is 15,200 with a notable growth rate of 5.14%, suggesting an expanding community that could fuel further demand for housing in the area. The influx of new residents may be attributed to various factors including employment opportunities, lifestyle amenities or regional developments drawing people to the area.
Investment Opportunities and Potential
Given the steady market appreciation and population growth, Goldboro presents itself as an attractive location for real estate investment. Single-family homes, with their higher annual appreciation rate, offer potentially higher returns on investment over time. However, apartments should not be overlooked as they provide a more affordable entry point into the real estate market and may appeal to new residents or those seeking lower maintenance living options.
Investors may also explore opportunities in new construction given the population growth or consider renovations and flips in older neighborhoods where property values have not yet peaked. Rental properties could capitalize on the influx of newcomers or short-term rentals catering to tourists if Goldboro has attractions that draw visitors.
Future Market Outlook
The future real estate market outlook for Goldboro appears positive based on current trends and statistics. Assuming the continuation of population growth and economic stability within the region, demand for housing is likely to persist which would support further property value appreciation.
Careful monitoring of economic indicators such as employment rates and infrastructure developments will be important for predicting long-term trends. Potential interest rate changes could also impact borrowing costs for buyers which in turn may affect market dynamics.
In conclusion, while no market is without risk, Goldboro’s current trajectory suggests a healthy real estate environment with potential for continued growth.
