Lawrencetown, 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 (2024) | 15,000 |
| Previous Population (2019) | 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
1. Current Market Conditions and Trends
The real estate market in Lawrencetown, Nova Scotia, is currently experiencing a period of steady growth. The median house price in the area is pegged at $500,000, with a year-over-year increase of 3.5%. This suggests a stable market that has been consistently appreciating in value. In contrast, the apartment sector shows a slightly more modest growth rate of 2.1% year-over-year with a median price set at $300,000.
The population of Lawrencetown sits at 15,000 residents and has seen a substantial growth rate of 7.1%. This demographic trend is indicative of an influx of new residents which may be driving the demand for housing in the area. The current statistics reflect a healthy market that is likely being fueled by both local demand and interest from external investors or newcomers to the region.
2. Investment Opportunities and Potential
With its steady housing price appreciation and significant population growth, Lawrencetown presents lucrative investment opportunities for both residential properties and rental units. The consistent increase in house prices points towards long-term capital gains for investors looking to purchase residential properties.
The rising population also suggests an increasing demand for rental accommodation, which could benefit investors in the apartment sector. Given the slower growth rate in apartment prices compared to houses, there may be potential for investors to enter this market segment at a relatively lower entry point while still benefiting from the overall upward price trajectory.
3. Future Market Outlook
Looking forward, Lawrencetown’s real estate market appears poised for continued growth. The robust population increase serves as a key indicator that demand for housing will likely remain strong. If current trends persist, both the housing and apartment markets can expect sustained appreciation rates.
Investors should monitor local economic developments and any changes in migration patterns closely as these factors could further influence the real estate landscape in Lawrencetown. Additionally, given the rise in remote work and individuals seeking living spaces outside urban centers post-pandemic, regions like Lawrencetown could benefit from these shifts in living preferences.
In conclusion, Lawrencetown’s real estate market holds promising prospects for investment based on current data trends and demographic shifts. Stakeholders would be well-advised to stay informed on regional developments that could impact future market conditions.
