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 (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 Greenland, Nova Scotia, currently showcases a steady growth in property values. With the median house price standing at $500,000, there has been an appreciation of 3.5% year-over-year. This rate indicates a healthy demand for housing in the area, suggesting that the market is experiencing a positive trajectory. Similarly, the median apartment price has seen a rise to $300,000, which correlates to a 2.1% year-over-year increase. These trends are underpinned by a robust population growth of 7.1%, signaling that Greenland is becoming an increasingly popular destination for new residents and investors alike.
Investment Opportunities and Potential
The continuing appreciation of property values in Greenland presents attractive investment opportunities. The steady increase in both house and apartment prices suggests that investments made in the local real estate are likely to benefit from capital gains over time. For investors looking for rental income, the population growth implies a rising demand for rental properties, potentially leading to favorable rental yields as well as long-term property value increases.
Future Market Outlook
The outlook for Greenland’s real estate market remains optimistic considering current trends and demographic indicators. As the population continues to grow at a significant rate of 7.1%, it is expected that the demand for housing will continue to rise correspondingly. Given this forecasted demand and the consistent upward trend in property prices, it’s likely that the real estate market in Greenland will remain buoyant for the foreseeable future. Both homebuyers looking for long-term residences and investors aiming for appreciation or rental income can find substantial opportunities within this market.
