Mulgrave, 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
Current Market Conditions and Trends
The real estate market in Mulgrave, Nova Scotia, is currently exhibiting steady growth. With a median house price of $500,000, which has increased by 3.5% year-over-year, the market is showing signs of sustained demand. Furthermore, apartments are also experiencing a positive trend with a median price of $300,000 and an increase of 2.1% year-over-year. These statistics suggest a healthy market that is consistently appreciating in value.
The population of Mulgrave stands at approximately 15,000 residents and has seen significant growth at a rate of 7.1%. This demographic development is likely contributing to the increased housing demand and could be an indicator of the area’s economic vitality and attractiveness to new residents.
Investment Opportunities and Potential
The steady increase in property values, coupled with the robust population growth, presents favorable conditions for real estate investment in Mulgrave. The consistent appreciation in house and apartment prices indicates that investments made in the current market have a strong potential for capital gains over time.
The fact that the population is expanding faster than the national average can signal opportunities for both residential and commercial real estate development. Investors may consider exploring new construction projects or renovation ventures to cater to the growing community’s needs.
Future Market Outlook
Looking forward, the Mulgrave real estate market appears poised for continued growth. The combination of a rising population and the existing trend of property value appreciation suggests that demand for housing will remain robust. If these demographic and economic trends persist, investors and homeowners can expect sustained growth in their property values.
However, potential investors should remain vigilant about broader economic factors that could influence interest rates or employment stability within the region as these variables can have significant impacts on real estate markets. Nonetheless, current indicators point towards a positive outlook for Mulgrave’s real estate market in the near to mid-term future.
