Lucasville, 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 Lucasville, Nova Scotia, is currently experiencing consistent growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market demonstrates a stable upward trend. Similarly, the median apartment price stands at $300,000, which has seen a slower yet steady growth rate of 2.1% over the past year.
The population of Lucasville is 15,000 and has been growing at a robust rate of 7.1%. This substantial population increase suggests a rising demand for housing in the area. The combination of growing housing prices and an expanding population indicates a healthy market with active buyers and sellers.
Investment Opportunities and Potential
For investors considering Lucasville, the real estate market presents promising opportunities. The consistent growth in house prices suggests that investments in residential properties are likely to appreciate over time. Given the population’s growth rate, rental properties are also an attractive option as there will be an ongoing need for housing.
With apartments experiencing a slightly lower growth rate than houses, they represent an accessible entry point for investors looking to capitalize on the positive market dynamics. Moreover, given their affordability relative to houses, apartments may have higher liquidity and could appeal to first-time homebuyers or individuals seeking downsizing options.
Future Market Outlook
Looking forward, the Lucasville real estate market appears poised for continued growth. The strong population increase will likely continue fueling demand for both owning and renting properties. Assuming that economic conditions remain favorable and interest rates stable, Lucasville’s real estate should maintain its current trajectory.
The upcoming infrastructure projects and economic developments within the region may further bolster property values and attract additional investment into the area. Investors and homebuyers alike should monitor local development plans closely as these can significantly impact future property valuations.
In conclusion, Lucasville’s real estate market shows signs of health and resilience with steady price increases and robust population growth signaling positive trends for both current homeowners and potential investors.
