Medford, 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
1. Current Market Conditions and Trends
The real estate market in Medford, Nova Scotia, currently exhibits stable growth with a median house price sitting at $500,000, reflecting a year-over-year increase of 3.5%. This increment is indicative of a healthy demand for housing in the area, which might be sustained by the significant population growth of 7.1%. In contrast, the median apartment price has reached $300,000, with a slightly more modest year-over-year growth of 2.1%. This difference in growth rates between houses and apartments may point towards a stronger preference for single-family homes in Medford or suggest that the apartment market is becoming increasingly saturated.
2. Investment Opportunities and Potential
Considering the steady appreciation in property values, Medford presents promising investment opportunities for both residential properties and rental units. The solid population increase implies a growing demand for housing that investors can capitalize on—especially when it comes to single-family homes that have experienced higher price appreciation. Furthermore, the slower growth rate in apartment prices could attract investors looking for more affordable entry points into the real estate market or those aiming to cater to segments of the population that cannot afford higher-priced detached homes.
3. Future Market Outlook
The future outlook for Medford’s real estate market seems optimistic due to its strong population growth and sustained increase in property values. If these trends continue, investors and homeowners alike could benefit from further capital gains. However, prospective buyers and investors should remain vigilant for any signs of market saturation or economic downturns that could affect property values. Monitoring factors such as interest rates, employment rates, and local economic developments will be crucial in making informed decisions about entering or continuing to invest in Medford’s real estate market.
