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Mineville, Nova Scotia Real Estate Market Data

Updated: Nov 2024

House

Median price $495,000
Monthly growth 1.1%
Quarterly trend 3.0%
Stock on market 0.7%

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 $420,000
3 bedrooms $495,000
4 bedrooms $620,000

Apartments

Bedrooms Median Price
1 bedrooms $240,000
2 bedrooms $340,000
3 bedrooms $450,000

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






Mineville, Nova Scotia Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Mineville, Nova Scotia currently presents healthy growth indicators. With a median house price of $495,000 and an appreciating trend of 3% year-over-year, the market is demonstrating steady growth. The median apartment price is also on an upward trajectory at $295,000, increasing at a slightly lower rate of 2.5% year-over-year. These trends suggest a stable and growing demand for both houses and apartments in the area.

The local population has grown by 4.8%, which indicates a robust community expansion likely fueling housing demand. This population growth could be attributed to various factors including Mineville’s economic prospects, quality of life, and its attractiveness to new residents looking for residential options outside urban centers.

Investment Opportunities and Potential

Mineville’s real estate market holds significant potential for investment opportunities. The consistent rise in property values suggests a positive environment for long-term capital gains. Investors considering purchasing rental properties may find that the growing population creates a corresponding demand for rental units, potentially leading to favorable rental yields.

Given the steady increase in property prices, investors might also look at opportunities for buying and holding properties, expecting continued appreciation. Moreover, the slightly slower growth in apartment prices compared to houses could be an indicator for a market segment with room for growth, possibly offering attractive entry points for investment in multi-family units.

Future Market Outlook

The outlook for the Mineville real estate market appears promising. If current trends and population growth continue at their present rates, it is reasonable to forecast ongoing demand for housing which should underpin further price growth. The consistent year-over-year increases in property values signal that the market has not yet reached a plateau and may continue to offer investment upside.

However, investors should remain vigilant regarding broader economic conditions that could affect interest rates and borrowing costs, as these factors can impact buyer affordability and influence overall market dynamics. It is also important to monitor local developments that could either enhance or detract from Mineville’s attractiveness to potential residents.

In summary, Mineville’s real estate market is characterized by steady growth and expanding population, signaling healthy demand and potential for profitable investments while acknowledging the need for careful consideration of external economic factors.