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 (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
Current Market Conditions and Trends
The real estate market in Goshen, Nova Scotia currently presents a stable environment with moderate growth. The median house price in the area stands at $500,000, indicating a year-over-year increase of 3.5%. This growth trend is relatively healthy and points to a steadily appreciating market that has avoided the volatility seen in other regions.
Similarly, the apartment sector shows positive momentum with a median price of $300,000, which has risen by 2.1% from the previous year. This suggests a growing interest in more affordable and versatile housing options, likely driven by demographic changes and economic factors.
The population of Goshen is approximately 15,000 residents, with a robust growth rate of 7.1%. Such demographic expansion supports demand for housing and indicates a vibrant local economy that can sustain real estate investment over time.
Investment Opportunities and Potential
Goshen’s real estate market offers several avenues for potential investors. The consistent rise in property values provides an opportunity for capital gains over the long term. Given the current trends, single-family homes remain attractive investments due to their higher appreciation rates.
The apartment market also holds promise due to its affordability and appeal to smaller households or those seeking lower-maintenance living arrangements. Investors might consider multi-unit residential buildings or developments catering to this segment as strategic assets in their portfolios.
The ongoing population growth not only fuels demand for housing but also creates opportunities in the commercial real estate sector. Investors could explore retail spaces, office buildings, or mixed-use developments to capitalize on the expanding local consumer base and business activity.
Future Market Outlook
The future real estate market outlook for Goshen remains optimistic based on current indicators. With steady population growth expected to continue, demand for housing should persist, thereby supporting property values. An ongoing trend towards urbanization and economic diversification within Nova Scotia suggests that Goshen might benefit from these broader provincial dynamics.
The possibility of infrastructure improvements and government initiatives aimed at stimulating regional economies could further enhance Goshen’s appeal to new residents and businesses alike. As such, the real estate market here is well-positioned for sustained growth both in the near term and beyond.
In conclusion, while no market is without risks, Goshen’s current trajectory indicates a stable environment with good potential for investment across various property types. Stakeholders are encouraged to monitor economic policies and demographic shifts closely as they will play significant roles in shaping the future of this market.
