Lakeville, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2025) | 15,300 |
| Previous Population (2020) | 15,000 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,200 |
| 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 real estate market in Lakeville, Nova Scotia is currently experiencing a steady growth in property values. With the median house price at $525,000, there has been a year-over-year increase of 4%. This trend suggests a healthy demand for single-family homes in the area. Similarly, apartments are also seeing appreciation, albeit at a slightly slower rate, with the median apartment price now at $310,000 and an annual growth of 2.5%. The population of Lakeville stands at 15,300 and has been growing at a rate of 2% which supports the ongoing demand for housing in the region.
Investment Opportunities and Potential
The positive trends in Lakeville’s real estate market indicate promising investment opportunities. The consistent rise in house prices reflects a strong market that could benefit long-term investors looking for capital appreciation. Rental properties could also be lucrative due to the steady population growth, suggesting a persistent need for housing. Investors may consider diversifying their portfolios by investing not only in single-family homes but also in apartments to capitalize on the comprehensive growth within the housing sector.
Future Market Outlook
The future outlook for Lakeville’s real estate market remains optimistic. Given the current growth rates and demographic trends, the demand for housing is expected to persist. If local economic conditions remain stable and attract further residential development, we can anticipate continued modest appreciation in property values. However, potential investors and homeowners should remain vigilant of macroeconomic factors that could influence interest rates and affordability which might impact market dynamics.
