Lequille, 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 Lequille, Nova Scotia, is currently experiencing steady growth. With a median house price of $500,000 and an annual appreciation rate of 3.5%, the housing sector shows a healthy upward trend. Similarly, the median apartment price stands at $300,000, with a slightly lower year-over-year increase of 2.1%. This suggests that while both housing and apartment segments are growing, houses are gaining value at a faster pace.
The population of Lequille has grown to 15,000 residents, reflecting a significant increase of 7.1%. This demographic expansion is likely driving demand for both owned and rented residential properties, contributing to the observed price trends.
Investment Opportunities and Potential
Given the current growth rates in property values, investing in Lequille’s real estate appears promising. The stronger performance of the housing market could be particularly attractive for investors looking for capital gains. Moreover, the robust population growth indicates a potential rise in demand for rental properties, which could benefit those interested in purchasing apartments for rental income.
As the market is not experiencing overly rapid price increases, there is room for investors to enter at a reasonable cost before potential acceleration in prices due to increasing demand. However, it’s important for investors to conduct thorough due diligence and consider local economic factors that may impact future real estate performance.
Future Market Outlook
The future outlook for the Lequille real estate market remains positive. If the current trends continue—supported by strong population growth and a stable economic base—the market could see sustained appreciation in property values. The ongoing demand for housing driven by population increase is likely to continue fueling investment opportunities.
Investors should monitor both macroeconomic indicators and local developments that could influence the market dynamics. Factors such as interest rates, employment rates within the area, and any planned infrastructure projects can significantly affect future real estate values and investment potential in Lequille.
