Oxford, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.8% |
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 | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,500 |
| Population Change | 3.5% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.4 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Oxford, Nova Scotia is currently experiencing a steady growth in property values. With the median house price at $485,000, there has been a 3.2% year-over-year increase, suggesting a consistent upward trend in housing prices. Meanwhile, the median apartment price stands at $295,000, which has risen by 2.5% year-over-year. This indicates ongoing demand for both types of properties.
The population of Oxford has seen a notable growth of 3.45%, which is likely contributing to increased demand for housing within the area. This demographic change can be attributed to factors such as local economic development, employment opportunities, and the appeal of Oxford’s quality of life.
Investment Opportunities and Potential
Oxford’s growing population and rising property values present a favorable environment for real estate investors. The continuous appreciation of median house and apartment prices points to a healthy investment potential for those looking to enter the market or expand their portfolios.
Investors may find opportunities in both residential and rental markets considering the steady price trends. Rental properties might be particularly attractive due to the influx of new residents looking for housing options. Furthermore, with the town’s economic prospects appearing positive, long-term capital gains could be expected.
Future Market Outlook
The future outlook for Oxford’s real estate market remains optimistic based on current trends and data. As the population continues to grow, driven by its increasing attractiveness as a place to live and work, demand for housing is projected to remain strong.
The sustained growth in property values suggests that Oxford is likely to maintain its trajectory as an appealing destination for homeowners and investors alike. However, it is important for stakeholders to monitor economic indicators and local developments that could impact future market conditions.
