Leamington, 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
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 sitting at $500,000, the market has seen a year-over-year increase of 3.5%. This suggests a healthy demand for housing in the area, likely driven by both local factors and broader national trends.
Similarly, the median apartment price has reached $300,000, with a slightly lower year-over-year growth rate of 2.1%. This difference in growth rates between houses and apartments may indicate a larger demand for single-family homes, which could be due to demographic shifts or buyer preferences in the region.
The population of Leamington stands at approximately 15,000 people, with an impressive growth rate of 7.1%. This influx of residents can be attributed to various factors such as economic opportunities, lifestyle appeal, or regional developments that are attracting new residents to the area.
Investment Opportunities and Potential
The consistent growth in property values coupled with significant population increase points towards strong investment opportunities in Leamington. The steady rise in median house prices indicates that investments in residential properties have been profitable and could continue to yield positive returns.
The slower growth rate for apartment prices provides an opportunity for investors looking to enter the market at a more accessible price point while still capitalizing on the overall upward trend in property values. The growing population further supports the potential for rental properties to meet housing demands, particularly for those who cannot afford to buy homes outright or prefer the flexibility of renting.
Future Market Outlook
Looking ahead, the future market outlook for Leamington is optimistic. The sustained population growth suggests that demand for housing will remain strong. If this demographic trend continues, it could lead to increased pressure on the housing supply, potentially driving prices up further over time.
An important factor to consider is the broader economic context and any changes that might affect employment rates or interest rates since these can have significant impacts on real estate markets. However, based on current data and trends, Leamington’s real estate market is poised for continued growth and remains an attractive option for both homebuyers and investors alike.
