Joggins, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.3% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,300 |
| Previous Population (2020) | 15,000 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The current real estate market in Joggins, Nova Scotia, reflects a steady increase in property values. The median house price stands at $485,000, demonstrating a growth rate of 3.3% year-over-year. This indicates a consistently appreciating market that could be attractive to homeowners and investors alike. The apartment sector is also experiencing growth with the median price at $295,000 and following a similar upward trend at a 2.5% increase year-over-year.
This market stability can be partially attributed to Joggins’ population growth of 2%, suggesting an influx of residents seeking housing options in the area. The demand for residential properties is likely contributing to the steady appreciation in home values.
Investment Opportunities and Potential
Investment opportunities within Joggins appear promising due to the progressive rise in property values. For investors looking to purchase residential real estate, both houses and apartments present viable options with their respective year-over-year price increases. Rental properties may also offer potential given the population growth, as newcomers will likely be seeking temporary or long-term accommodations.
Moreover, with the median house price being substantially higher than that of apartments, investors might consider the latter for a more affordable entry point into the real estate market. The slightly lower growth rate for apartments suggests there might be room for significant capital gains in the long term as the market continues to mature.
Future Market Outlook
The future outlook for Joggins’ real estate market remains positive. Given the steady population growth and consistent upward trend in housing prices, it is reasonable to expect continued demand for housing which would support further property value appreciation. However, investors and homebuyers should remain aware of broader economic conditions and local developments that could impact these trends.
It is also important to note that while past performance can be indicative of future trends, real estate markets are subject to fluctuations based on numerous factors such as interest rates, employment rates, and government policies. Therefore, prospective buyers and investors should conduct thorough due diligence and consider consulting with local real estate professionals before making any investment decisions.
