Lakeview, 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 Lakeview, Nova Scotia, is currently experiencing stable growth, as indicated by the median house price of $500,000 with a year-over-year increase of 3.5%. This incremental growth suggests a healthy demand for housing coupled with a balanced supply. Similarly, the apartment market is also showing positive movement, with a median price point of $300,000 and a growth trend of 2.1% over the last year.
Furthermore, the population of Lakeview has been on an upward trajectory with a significant growth rate of 7.1%, suggesting an increasing demand for residential properties. This demographic change is likely to have contributed to the steady appreciation in property values seen in recent times.
Investment Opportunities and Potential
With the ongoing trends in both house and apartment markets showing modest but steady appreciation, Lakeview presents itself as an appealing location for investors seeking long-term capital gains. The consistent increase in property values indicates that investments made now have the potential for growth in equity over time.
The robust population growth further enhances the area’s investment potential, as it may lead to heightened demand for rental properties. Investors can also consider diversification within the local real estate market by investing in both residential homes and apartments to cater to different segments of the market.
Future Market Outlook
The future outlook for Lakeview’s real estate market remains optimistic. Given the sustained population increase and the current pace of economic development in the region, it is reasonable to expect that both housing demand and property values will continue to rise. The gradual growth trends observed align with stable market conditions that are less susceptible to volatile swings often witnessed in overheated markets.
Assuming no major economic disruptions occur and that infrastructure development keeps pace with population growth, Lakeview’s real estate market should remain attractive to both homeowners and investors alike. It’s advisable for stakeholders to monitor key economic indicators and regional development plans closely as they could influence future market dynamics.