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 (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
Lawrencetown, Nova Scotia is experiencing a dynamic real estate market, with current data indicating a steady growth in property values. The median house price in the region stands at $500,000, reflecting a year-over-year increase of 3.5%. This consistent upward trend suggests healthy demand and a competitive market for single-family homes.
On the other hand, the apartment sector shows a slightly lower growth rate, with the median price at $300,000 and an annual appreciation of 2.1%. While this is a more modest rise compared to houses, it is still indicative of a positive trajectory in the multi-family dwelling segment.
The local population has reached 15,000 residents with a robust growth rate of 7.1%. This demographic expansion underpins much of the housing demand and helps fuel the real estate market’s momentum in Lawrencetown.
Investment Opportunities and Potential
The investment landscape in Lawrencetown presents several opportunities for potential investors or existing property owners. The steady appreciation of house prices points towards opportunities for long-term capital gains for those investing in residential properties. The higher growth rate in single-family homes could appeal to investors looking for assets that may yield greater returns over time.
Given the population growth and its impact on housing needs, there is potential for both rental and sale markets. Investors may also consider exploring development projects to cater to the increasing demand or look into value-add ventures such as property renovations or conversions to maximize returns.
Future Market Outlook
Looking ahead, the future market outlook for Lawrencetown remains optimistic. Population growth is likely to continue serving as a catalyst for real estate demand. If current trends persist, property values can be expected to maintain their upward trajectory, albeit potentially at varying rates between different housing types.
It will be essential for investors and stakeholders to keep an eye on economic drivers such as employment rates, infrastructure development, and external factors that could influence buyer sentiment and market stability. A balanced approach considering both short-term fluctuations and long-term trends will be crucial in navigating the Lawrencetown real estate market effectively.
