Lakelands, 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 Lakelands, Nova Scotia is experiencing a period of steady growth. With a median house price currently standing at $500,000, there has been an increase of 3.5% year-over-year. This indicates a healthy demand for single-family homes in the area. The market for apartments is also showing positive movement, with a median apartment price of $300,000 and an annual appreciation trend of 2.1%. The population of Lakelands has reached approximately 15,000 residents, with a robust growth rate of 7.1%, suggesting an expanding local economy and potential for increased housing demand.
Investment Opportunities and Potential
In light of the current trends, Lakelands offers promising investment opportunities in both residential and rental properties. The steady increase in property values indicates that investments made now could yield considerable returns in the future. Moreover, the strong population growth signals a rising need for housing, which may benefit investors looking to enter the rental market or develop new residential projects. The consistent growth in apartment prices, although more modest compared to houses, suggests stability and potential for long-term gains in the multi-family dwelling sector.
Future Market Outlook
The outlook for the real estate market in Lakelands is optimistic. Given the solid year-over-year growth in house and apartment prices combined with significant population expansion, it’s reasonable to expect that the demand for housing will continue to rise. This demand could drive further price increases and create opportunities for developers and investors alike. Should the economic conditions remain favorable, including low-interest rates and sustained local job growth, Lakelands’ real estate market is poised for continued prosperity.