Oxford, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
Median price | $495,000 |
Monthly growth | 1.3% |
Quarterly trend | 4.0% |
Stock on market | 0.7% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.5% |
Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $495,000 |
4 bedrooms | $610,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $245,000 |
2 bedrooms | $340,000 |
3 bedrooms | $450,000 |
Demographics
Current Population (2025) | 15,000 |
Previous Population (2020) | 14,500 |
Population Change | 3.4% |
Total Private Dwellings | 6,200 |
Occupied Private Dwellings | 5,700 |
Population Density (per km²) | 1.6 |
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 period of steady growth. The median house price stands at $495,000, marking a year-over-year increase of 4%. This indicates a healthy upward trend in property values for the region, which could be attributed to various factors including demand outpacing supply and an influx of buyers attracted by the town’s amenities and lifestyle.
On the other hand, the apartment market is witnessing a slightly more modest growth with the median apartment price at $295,000 and an annual appreciation of 2.5%. This difference in growth rates between houses and apartments may reflect a market preference for more spacious living accommodations or could be due to a surplus of apartment inventory.
The population of Oxford has grown to approximately 15,000 residents, with a robust growth rate of 3.4%. This demographic development suggests that there is an increasing demand for housing which could continue to drive the market forward.
Investment Opportunities and Potential
Oxford presents appealing opportunities for real estate investors. The steady increase in property values coupled with substantial population growth points towards a market with significant potential for long-term capital gains. Single-family homes, given their stronger appreciation rate, appear particularly promising for investors seeking assets that may yield better returns over time.
Furthermore, the moderate but consistent rise in apartment prices suggests that these properties could be suitable for investors looking for lower entry points into the real estate market or those interested in rental income investments. With ongoing population growth, rental demand is likely to rise, possibly leading to increased rental yields.
Future Market Outlook
The future outlook for Oxford’s real estate market remains positive based on current trends and data. The continuous population expansion implies sustained demand for housing which could further propel property values. If the current trends hold, we can anticipate ongoing growth in both house and apartment markets though possibly at different rates.
In addition to residential growth, local economic development initiatives could also contribute positively to the real estate market by attracting new businesses and residents. Investors and homebuyers should keep an eye on such developments as they can significantly impact property valuations and rental market dynamics.
In conclusion, Oxford’s real estate market presents a stable investment environment with potential for appreciation driven by consistent population growth and solid housing demand. As always, potential investors should conduct thorough due diligence and consider local economic factors along with these broader trends when making investment decisions.