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Lydgate, Nova Scotia Real Estate Market Data

Updated: Nov 2024

House

Median price $485,000
Monthly growth 1.1%
Quarterly trend 3.2%
Stock on market 0.8%

Apartment

Median price $295,000
Monthly growth 0.8%
Quarterly trend 2.5%
Stock on market 1.0%

Prices by Number of Bedrooms

Houses

Bedrooms Median Price
2 bedrooms $425,000
3 bedrooms $485,000
4 bedrooms $590,000

Apartments

Bedrooms Median Price
1 bedrooms $240,000
2 bedrooms $340,000
3 bedrooms $420,000

Demographics

Current Population (2025) 15,200
Previous Population (2020) 14,500
Population Change 4.8%
Total Private Dwellings 6,200
Occupied Private Dwellings 5,700
Population Density (per km²) 1.6
Land Area (km²) 2,500.5

Market Analysis





Lydgate, Nova Scotia Real Estate Market Analysis

1. Current Market Conditions and Trends

The real estate market in Lydgate, Nova Scotia, is currently experiencing a period of moderate growth. With a year-over-year increase of 3.2% in median house prices, now at $485,000, the market is showing steady appreciation. Apartments are also following a similar trend with a 2.5% year-over-year increase, bringing the median price to $295,000. These statistics indicate a healthy demand for housing in the area.

The population of Lydgate has grown by 4.8%, suggesting an influx of residents that could be contributing to the demand for housing. This population growth can often be associated with employment opportunities and quality of life in the region, factors that are likely playing a role in the current real estate dynamics.

2. Investment Opportunities and Potential

Given the consistent growth in both housing and apartment markets, Lydgate offers appealing investment opportunities. The steady market growth provides potential for capital gains over time for those investing in residential properties. Additionally, the rise in population suggests that rental properties could also be a promising avenue for investors looking to capitalize on the demand for housing from those who may not be ready or able to purchase homes.

With median prices still under half a million for houses and significantly lower for apartments, entry into the market may be accessible for a range of investors. Moreover, these price points paired with population growth imply room for development projects catered towards middle-income earners seeking affordable housing options.

3. Future Market Outlook

The future outlook for Lydgate’s real estate market appears positive based on current trends and data. The sustained increase in property values at manageable rates indicates that the market is not experiencing rapid inflation but rather stable growth conducive to long-term investment.

With an expanding population and consistent economic indicators pointing towards health and longevity in the real estate sector, there’s reasonable optimism for continued appreciation in property values. Investors and homebuyers can find assurance in these trends but should remain vigilant of national economic shifts that might impact local markets.