Leville, 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 in Leville, Nova Scotia
The real estate market in Leville, Nova Scotia is currently experiencing steady growth. With a median house price of $500,000, which reflects a year-over-year increase of 3.5%, the area is seeing a consistent upward trend in property values. Apartments are also following a similar trajectory with a median price of $300,000 and witnessing a 2.1% rise compared to the previous year.
The population of Leville stands at 15,000 and has been growing at a rate of 7.1%, indicating a healthy influx of residents that could be contributing to the demand for housing. This demographic expansion may be due to new employment opportunities, lifestyle choices favoring smaller communities, or other socio-economic factors attracting people to the area.
Investment Opportunities and Potential in Leville
Given the current trends, Leville presents appealing investment opportunities. The steady appreciation in property prices suggests that investing in residential real estate could yield favorable returns over time. The consistent population growth also implies a sustained demand for housing, which bodes well for rental markets and potential developments.
Investors considering entry into the Leville market could focus on single-family homes or explore apartment complexes catering to smaller households or professionals attracted by local job prospects. With the positive pricing trends for both houses and apartments, investors may find both short-term gains through flips and long-term income through rentals to be viable strategies.
Future Market Outlook for Leville Real Estate
The future market outlook for Leville’s real estate appears optimistic based on current indicators. If the population continues to grow at its current pace, demand for housing is likely to remain strong; this should further support price stability and growth. The year-over-year increases in median house and apartment prices suggest that the market has not yet reached its peak and there is still room for growth.
Assuming no major economic disruptions occur, investors can reasonably expect continued appreciation in property values. However, as with any investment, it is crucial to monitor economic factors such as employment rates, infrastructure developments, and interest rates which can significantly influence real estate markets.
In conclusion, Leville presents an attractive market for real estate investment with its positive trends in property values and population growth. While careful consideration should be given to broader economic indicators, current data points towards a favorable outlook for both short-term investments and long-term property holdings in this Nova Scotian community.
