Lincolnville, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.3% |
| Stock on market | 0.6% |
Apartment
| Median price | $290,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The Lincolnville real estate market is currently experiencing a steady increase in property values. With the median house price sitting at $495,000, the market has seen a year-over-year growth of 3.3%. This indicates a healthy demand for homes in the area, likely driven by the region’s positive economic indicators and an ever-growing population, which has risen by 4.8% recently.
The apartment market in Lincolnville is also on an upward trajectory, albeit at a slightly slower pace compared to houses. The median apartment price is currently $290,000, with a year-over-year growth of 2%. This suggests that apartments are also a sought-after commodity, potentially due to their affordability relative to standalone homes and appeal to certain demographics such as young professionals and smaller families.
Investment Opportunities and Potential
Lincolnville’s real estate market presents various investment opportunities. The continuous increase in property values points towards a robust investment potential for both residential homes and apartments. Given the sustained population growth rate of 4.8%, demand for housing is expected to remain high, further propelling the investment potential in this region.
For investors looking at long-term equity growth, purchasing residential properties could be particularly strategic, as the higher growth rate in house prices compared to apartments indicates stronger capital appreciation potential. Additionally, the demand for rental properties is likely to increase with population growth, providing investors with opportunities for stable rental income streams.
Future Market Outlook
The future outlook for Lincolnville’s real estate market remains optimistic. Considering the steady population increase and ongoing economic development within the area, it is reasonable to anticipate continued growth in property values. The current trends suggest that both housing and apartment markets will maintain their upward direction which bodes well for homeowners and investors alike.
Prospective investors should keep an eye on local economic policies, infrastructure development projects, and other factors that can influence the market dynamics. Nevertheless, based on current statistics and trends, Lincolnville’s real estate market appears poised for sustained growth in the foreseeable future.
