Goshen, 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
In Goshen, Nova Scotia, the real estate market conditions reveal a steady growth in property values. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is experiencing sustainable appreciation. Similarly, apartments are also seeing a positive trend with a median price point of $300,000 and a year-over-year growth of 2.1%. These trends indicate a healthy demand for housing in the area.
The population of Goshen stands at 15,000 and has witnessed a significant growth rate of 7.1%, suggesting an influx of new residents and potential homebuyers. This demographic expansion is likely contributing to the steady upward pressure on property prices as demand for housing increases.
Investment Opportunities and Potential
Investors considering Goshen’s real estate market can expect promising opportunities given the consistent rise in property values. The stable increase in house and apartment prices indicates that investments made in the current market have good potential for capital gains over time.
Furthermore, the robust population growth underpins the potential for rental investments as an increasing number of residents may seek housing before purchasing properties. Investments aimed at addressing the housing needs of this growing community could include developing multi-unit residential buildings or renovating existing properties to cater to various segments within the rental market.
Future Market Outlook
The outlook for Goshen’s real estate market remains optimistic as both historical data and current trends suggest ongoing growth. The combination of steady price increases, significant population expansion, and low interest rates creates an environment ripe for continued investment activity.
Assuming that local economic conditions remain favorable and that the region continues to attract new residents through employment opportunities or lifestyle offerings, we can expect sustained demand for housing. This should keep property values on an upward trajectory while also presenting opportunities for rental market expansion.
Investors and prospective homebuyers should monitor key economic indicators such as employment rates, income levels, and regional development plans to make informed decisions about entering or expanding their presence in Goshen’s real estate market.
