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 steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing signs of healthy expansion. Similarly, apartments are becoming more valuable with a median price of $300,000 and a growth trend of 2.1% over the past year. This suggests a balanced growth across different types of residential property.
The population of Lakeview has reached 15,000 and has seen an impressive growth rate of 7.1%. This influx of residents is likely contributing to the demand for housing, pushing prices upward at a sustainable rate. The data indicates that the market is not overheating but rather gradually appreciating in value, suggesting stability in local real estate conditions.
Investment Opportunities and Potential
Lakeview presents promising investment opportunities given its growing population and consistent appreciation in property values. The steady increase in median house prices indicates that investing in residential properties could be lucrative for both short-term gains through property flipping and long-term wealth accumulation via rental properties or primary residence equity.
Furthermore, the apartment sector’s slightly lower growth rate compared to houses offers an accessible entry point for investors looking to capitalize on the growing rental market spurred by the population increase. Investors considering multifamily units could benefit from consistent rental income as well as potential capital gains over time.
Future Market Outlook
The future outlook for Lakeview’s real estate market remains positive. The continued population growth serves as a strong indicator that demand for housing will persist. If current trends hold, property values are expected to continue their upward trajectory, albeit at a measured pace that mitigates the risk of market volatility.
Additionally, as infrastructure development often follows population increases, Lakeview may see enhanced amenities and services which would further boost property attractiveness and values in the area. Prospective investors should monitor local development plans and demographic trends closely as these factors will play a pivotal role in shaping the real estate landscape in Lakeview.