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 | 1.9% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $385,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $605,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $345,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Mineville, Nova Scotia, is currently exhibiting steady growth. With a median house price of $495,000, the market has seen a year-over-year increase of 3%. This suggests a healthy demand for single-family homes. The median apartment price is sitting at $295,000, which has also experienced growth, albeit at a slightly lower rate of 1.9% year-over-year.
The population of Mineville stands at 15,500 and has been growing at a rate of 3.3%. This demographic expansion is likely contributing to the increased demand for housing in the area. As more people move to Mineville, the demand for both houses and apartments continues to rise, which may lead to sustained price increases unless there is a corresponding increase in housing supply.
2. Investment Opportunities and Potential
Mineville’s real estate market currently exhibits characteristics that are indicative of promising investment opportunities. The consistent population growth paired with moderate yet steady price appreciation suggests that there is ongoing demand for housing that could yield returns for investors over time.
For those considering investment in residential properties, single-family homes present an attractive option given their higher annual price increase when compared to apartments. Long-term investments in these properties could benefit from further appreciation and potential rental income as the population continues to grow.
Apartments also present an opportunity, particularly for investors looking to enter the market at a lower price point while still capitalizing on the growing housing demand. The slightly lower appreciation rate might be offset by the potential for rental income in a market with an expanding population.
3. Future Market Outlook
The future outlook for Mineville’s real estate market remains positive based on current trends and data. Assuming the population continues to grow at or near its current rate of 3.3%, it can be expected that housing demand will remain strong, potentially pushing prices upward.
The consistent growth in median house and apartment prices indicates that Mineville’s real estate market is not experiencing rapid inflation but rather a sustainable level of appreciation. This trend is likely to attract homebuyers and investors who are seeking stability and moderate growth.
In summary, if the local economy remains stable and supportive of the current population trend, Mineville’s real estate market should continue to offer solid opportunities for both homebuyers and investors alike. Ongoing monitoring of economic indicators and housing supply will be key in forecasting any shifts in this positive outlook.
