Pugwash, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.4% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Pugwash, Nova Scotia, the real estate market is experiencing a steady increase in property values. The median house price stands at $495,000, reflecting a year-over-year growth of 3.4%. This growth rate suggests a healthy demand for housing in the area. Meanwhile, the median apartment price is currently $295,000, with a slightly lower year-over-year appreciation of 2%. The consistency in growth across different property types indicates a stable market that attracts both homeowners and investors.
The population of Pugwash has reached approximately 15,200 residents, showing a significant growth rate of 4.83%. This demographic trend suggests an expanding community that could contribute to sustained demand in the housing market. Such population growth can often lead to increased consumer spending and investment in local infrastructure, further bolstering the real estate market.
Investment Opportunities and Potential
The ongoing appreciation in property values coupled with the rising population suggests that Pugwash presents viable investment opportunities. Investors looking at long-term capital gains should consider the positive trends in house and apartment prices. The steady increase in property values indicates that investments made today have the potential for appreciation over time.
Given the current growth trajectory and demographic expansion, rental properties may also offer attractive returns. As more people move to Pugwash, the demand for rental accommodations is likely to rise, which could drive up rental yields for investors.
Additionally, as a coastal town known for its warm waters and scenic views, Pugwash may present unique opportunities for vacation rental investments or developments catering to tourism and recreation.
Future Market Outlook
The future outlook for Pugwash’s real estate market appears optimistic. If the current trends continue—moderate price appreciation and robust population growth—the market is poised for ongoing stability and growth. The consistent increase in property values points towards a market that is both resilient and attractive to buyers and investors alike.
However, it is essential to monitor external economic factors such as interest rates, employment rates, and broader provincial economic policies that may influence buyer sentiment and affordability. Provided these conditions remain favorable, Pugwash’s real estate market should continue to offer promising opportunities well into the future.
In conclusion, Pugwash’s real estate market holds appeal due to its steady price growth, expanding population base, and potential as both a residential community and tourist destination. Prospective investors and homebuyers are encouraged to consider these positive indicators when making decisions in this dynamic Nova Scotian market.
