Greenland, 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 Greenland, Nova Scotia, is currently characterized by steady growth. With a median house price sitting at $500,000, the market has experienced a healthy appreciation of 3.5% year-over-year. This indicates a sustainable rate of growth that reflects both the desirability of the region and a balanced demand-supply scenario.
In contrast, the median apartment price is currently $300,000, with an upward trend of 2.1% year-over-year. While this is a more modest increase compared to houses, it highlights consistent growth in the multi-family property segment as well.
The population of Greenland stands at 15,000 residents with a notable growth rate of 7.1%. This surge suggests a burgeoning community that could drive further housing demand in the near future.
Investment Opportunities and Potential
The current market conditions in Greenland present multiple investment opportunities. The robust population growth paired with appreciating property values suggest that demand for housing will continue to escalate. Investors could potentially benefit from acquiring residential properties now to capitalize on the expected appreciation and rising rental demand.
Houses present a particularly promising investment opportunity given their higher rate of appreciation. However, apartments should not be overlooked as they offer an entry point into the real estate market at a lower initial investment cost and appeal to individuals or smaller households who may contribute to the growing trend of urbanization.
Future Market Outlook
The future outlook for Greenland’s real estate market remains optimistic. Given the solid population growth and ongoing development within the region, it is reasonable to anticipate continued demand for housing. The consistent upward trend in property prices signifies a stable market with potential for long-term capital gains for investors.
If current trends hold, we can expect property values to continue rising at a measured pace. This gradual increase is beneficial for maintaining affordability while still offering attractive returns on investment.
To conclude, Greenland’s real estate market appears to be on solid footing with good prospects for both homeowners and investors alike. As always, potential investors should conduct thorough due diligence and consult with local real estate experts before making any investment decisions.
