Goldenville, 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
Current Market Conditions and Trends
The real estate market in Goldenville, Nova Scotia, is currently experiencing a period of steady growth. The median house price stands at $500,000, which represents a 3.5% year-over-year increase. This trend suggests a healthy demand for housing in the area. Similarly, the median apartment price has reached $300,000, with a moderate year-over-year appreciation of 2.1%. These figures indicate a balanced market that is growing at a sustainable pace.
The population of Goldenville has seen significant growth, currently standing at approximately 15,000 residents, which is a 7.1% increase from the previous year. This influx is likely contributing to the demand for housing and could be indicative of an expanding local economy.
Investment Opportunities and Potential
Given the steady growth in property values and the increasing population, Goldenville offers promising investment opportunities. For investors looking to buy residential properties, the continuous appreciation trend provides potential for capital gains over time. Moreover, the town’s increasing population implies a potential for rental investments to meet the demand for housing from those who prefer not to purchase homes immediately.
With house prices showing stronger growth than apartment prices, single-family homes may present a more attractive investment for those seeking higher appreciation rates. However, apartments should not be overlooked as they offer lower entry points into the market and may cater to new residents or smaller households.
Future Market Outlook
The future real estate market outlook for Goldenville appears optimistic. The consistent rise in property values suggests that there is ongoing confidence in the local real estate market. As long as the population continues to grow and economic conditions remain favorable, it is reasonable to expect that both house and apartment prices may continue their upward trajectory.
The town’s infrastructure development, quality of life factors, and potential economic expansion will play crucial roles in shaping the future real estate landscape. Investors and homebuyers should monitor these aspects closely as they can significantly influence market dynamics and property valuation over time.
In conclusion, Goldenville presents an appealing market for both homeownership and investment purposes with its current stability and growth prospects. However, as with any real estate investment, it is important to conduct thorough research and consider all variables before making decisions.
