Greenwich, 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 Greenwich, Nova Scotia, the real estate market is currently experiencing a steady growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This is indicative of a healthy demand for single-family homes in the area. On the other hand, apartments are comparatively more affordable, with a median price of $300,000 and a modest annual appreciation of 2.1%. These trends suggest that while there is consistent growth in property values across the board, houses are gaining value at a faster pace than apartments.
Investment Opportunities and Potential
The Greenwich real estate market presents attractive opportunities for investors. Single-family homes have shown a stronger price appreciation, which may interest investors looking for properties with higher potential capital gains. Given the more moderate price increase for apartments, there is an opportunity for investors to enter the market at a lower point while still participating in the region’s overall growth. Additionally, with the population growing at an impressive rate of 7.1%, there is likely to be sustained demand for housing, further supporting investment potential in both residential sectors.
Future Market Outlook
The future outlook for Greenwich’s real estate market remains positive. The robust population growth suggests an increasing need for housing and can lead to heightened demand that may push property values even higher. Assuming that economic conditions remain stable and supportive of real estate growth, we can anticipate continued upward trends in both median house and apartment prices. However, as with any investment, potential changes in local or national economic conditions could affect these projections.
