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Oakfield, 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




Oakfield, Nova Scotia Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Oakfield, Nova Scotia, is experiencing steady growth as reflected by the latest data. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This increment indicates a healthy demand for single-family homes and a robust market that is attracting buyers. The market for apartments is also showing positive trends, with the median price at $300,000 and an annual growth rate of 2.1%. Such gradual appreciation suggests a stable investment environment for multi-family units.

The population in Oakfield has seen significant growth with an increase of 7.1%, which is a contributing factor to the housing demand. This demographic expansion puts pressure on the housing stock, creating opportunities for both development and resale markets.

Investment Opportunities and Potential

With the observed housing price trends and population growth, Oakfield presents several investment opportunities. For investors looking at long-term equity gains, purchasing single-family homes could be advantageous given the sustained increase in median house prices. Rental properties also offer potential due to the growing population that may not immediately enter homeownership but still require housing.

The slower pace of apartment price increases suggests there might be a window for investors to enter the market before further acceleration occurs. The current apartment price trends offer an opportunity for those looking to invest in properties with lower initial costs compared to houses.

New development projects could also be considered by investors aiming to capitalize on the increasing housing demand driven by population growth. These projects could range from residential subdivisions to mixed-use developments that cater to new residents’ needs.

Future Market Outlook

The future outlook of Oakfield’s real estate market appears optimistic. Assuming current economic conditions persist, the market should continue to experience steady growth in property values. Continued population increase will likely maintain or even heighten demand for housing, both in sales and rentals.

If local employment opportunities expand alongside population size and local infrastructure continues to develop, these factors are expected to further strengthen the housing market’s foundation. However, it is crucial for potential investors to monitor interest rate changes and any economic policy shifts that could affect mortgage affordability and real estate investment attractiveness.

In conclusion, Oakfield’s real estate market currently presents a solid opportunity for diverse types of investments with expectations of continued growth based on existing trends and demographic indicators.