Marshville, 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 Marshville, Nova Scotia is currently experiencing steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%. This indicates a healthy demand for single-family homes and a robust housing market. The median apartment price, sitting at $300,000 with a 2.1% year-over-year increase, suggests that the market for smaller living spaces is also growing, albeit at a slightly slower pace.
Marshville’s population has grown by 7.1%, reflecting an influx of new residents and potential homebuyers. This demographic shift is likely contributing to the demand for housing and the gradual appreciation in property values. The local economy is likely benefiting from this population growth, providing stability to the real estate market.
Investment Opportunities and Potential
The current trends in Marshville’s real estate market present several investment opportunities. The consistent growth in median house prices may appeal to investors looking for long-term capital gains, while the solid increase in apartment prices might attract those interested in catering to singles or small families.
Given the population growth, there is potential for both rental and sale markets. Investors could capitalize on the increasing demand by purchasing properties to rent out, potentially securing a steady income stream from long-term leases or vacation rentals if tourism supports it.
Moreover, as the population continues to expand, there may also be opportunities in developing new residential projects or renovating existing properties to meet changing consumer preferences and needs.
Future Market Outlook
The future outlook of Marshville’s real estate market appears promising. The ongoing population growth suggests sustained demand for housing which could maintain or even increase the current rate of property value appreciation. If economic conditions remain favorable and the town continues to attract new residents due to employment opportunities or lifestyle factors, the real estate market should remain robust.
However, investors and stakeholders should monitor local economic drivers and be aware of any changes in immigration patterns or employment rates that could impact the market dynamics. Infrastructure developments that improve connectivity to neighboring areas or enhance local amenities could further boost property values and investment potential.
In conclusion, Marshville offers a stable and growing real estate environment with considerable investment opportunities supported by positive demographic trends. Stakeholders are encouraged to keep an informed view of broader economic indicators to make strategic decisions.
