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 (2025) | 15,000 |
Previous Population (2020) | 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 steady growth. With a median house price of $500,000 and an annual appreciation trend of 3.5%, the housing market demonstrates resilience and consistent demand. Similarly, the median apartment price stands at $300,000 with a slightly slower growth trend of 2.1% year-over-year.
The population of Lucasville has seen significant growth at a rate of 7.1%, which can be indicative of a growing economy and an inflow of residents seeking housing. This demographic shift is likely contributing to the healthy demand for both houses and apartments in the region.
Investment Opportunities and Potential
Considering the current trends, Lucasville offers promising investment opportunities in the real estate sector. The steady increase in property values suggests that investing in residential real estate could yield positive returns over time. The strong population growth further supports the potential for rental properties to meet the housing needs of new residents.
For investors looking into long-term investment, purchasing single-family homes could capitalize on the higher growth rate observed in house prices. On the other hand, apartments offer a more accessible entry point for investors with a smaller budget or those interested in tapping into the rental market.
Future Market Outlook
The future market outlook for Lucasville’s real estate remains optimistic given the current patterns. If population growth continues at its current pace, demand for housing is expected to remain robust. This could lead to sustained or even increased property value appreciation over time.
However, it is essential for investors to keep an eye on economic indicators that may affect real estate markets such as employment rates, interest rates, and local industry performance. Additionally, staying informed about regional development plans can provide insights into areas that might experience higher growth due to infrastructural improvements.