Leamington, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $490,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $490,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2024) | 15,300 |
| Previous Population (2019) | 15,000 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Leamington, Nova Scotia is currently experiencing a period of steady growth. With a median house price of $490,000 and an annual increase of 2.8%, the market is showing signs of moderate price appreciation. Similarly, the median apartment price has reached $295,000, with a year-over-year growth rate of 1.9%. This indicates a consistent upward trend in property values across the board.
Leamington’s population has seen a growth rate of 2%, suggesting an increasing demand for housing as more individuals and families are drawn to the area. The rising population is likely contributing to the health of the real estate market by driving demand for both ownership and rental properties.
Investment Opportunities and Potential
The current upward trends in Leamington’s real estate market present promising investment opportunities. The moderate yet consistent growth in property values is indicative of a stable environment for investors looking for long-term capital gains. Additionally, given the population growth, there is potential for investors to capitalize on both residential and rental markets.
For those interested in purchasing properties to rent out, the increasing local population suggests that there will be a steady demand for rental accommodations. Investors could therefore see sustained rental income and favorable yields on their investments.
The relative affordability of apartments compared to houses makes them particularly attractive for first-time investors or those with limited capital who wish to enter the real estate market.
Future Market Outlook
The future outlook for the Leamington real estate market appears optimistic. Assuming that the current economic conditions persist and population trends continue upwards, it is reasonable to anticipate further growth in property values over the coming years.
A key factor that may influence the market positively is Leamington’s appeal as a smaller community with access to natural amenities, which has become increasingly desirable following global events that have encouraged remote work and a shift towards less densely populated areas.
However, investors should also remain aware of broader economic factors that could impact interest rates and borrowing costs, which in turn would affect buyer affordability and potentially slow down market activity. Staying informed on both local and national economic indicators will be crucial for making astute investment decisions moving forward.
