Greenfield, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,150 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.4% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Greenfield, Nova Scotia is currently experiencing a steady growth pattern. With a median house price of $485,000 and an annual appreciation rate of 4.2%, the market is showing healthy signs of development. This trend indicates a sustainable level of demand that is driving house prices upward at a moderate pace.
Similarly, the apartment segment is also witnessing growth, albeit at a slightly lower rate. The median apartment price stands at $295,000, with a year-over-year increase of 2.5%. This growth can be attributed to demand from smaller households or individuals seeking affordable housing options in the area.
Population growth in Greenfield supports the ongoing real estate trends with an increase of 2.4%. This influx of residents suggests that Greenfield is becoming an increasingly desirable location to live, which may continue to put upward pressure on property prices due to higher demand.
Investment Opportunities and Potential
Considering the steady rise in property values, Greenfield presents several promising investment opportunities. The consistent year-over-year increases in both house and apartment prices point towards a robust market where real estate assets are likely to appreciate over time.
Investors looking to capitalize on rental income may find the growing population an advantage as it could lead to a higher demand for rental properties. Furthermore, the diversification between single-family homes and apartments allows investors to cater to different segments of the market depending on their investment strategy.
The current trends and statistics suggest that early investments could yield substantial returns as the market continues to grow. Strategic investments in areas poised for further development or in properties that offer value-add opportunities through renovation might particularly stand out.
Future Market Outlook
The future outlook for Greenfield’s real estate market remains positive. With a steady population growth rate and increasing property values, it appears that the demand for housing will persist, potentially leading to continued appreciation in property prices.
An important factor contributing to this outlook is Greenfield’s economic stability and potential for job growth which can attract more residents to the area. Additionally, if current trends hold, investors can anticipate gains from both capital appreciation and rental yields in the mid-to-long term perspective.
However, prospective buyers and investors should remain cognizant of broader economic conditions and local developments that could impact these trends. Monitoring interest rates, employment figures, and regional economic policies will be vital for making informed decisions about entering or exiting the Greenfield real estate market.
