Pugwash, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.8% |
| 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 | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,100 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,100 |
| 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 Pugwash, Nova Scotia, is currently experiencing a period of steady growth. The median house price stands at $495,000, which represents a 3.8% increase year-over-year. This growth indicates a healthy demand for housing in the area, which may be driven by the region’s natural beauty and appeal as a lifestyle destination.
Similarly, the apartment market has demonstrated resilience with a median price point of $295,000, and a more modest yet consistent growth rate of 2.5% year-over-year. The less pronounced increase in apartment prices compared to houses suggests that there is a segment of the market seeking more affordable, lower-maintenance living options.
The population of Pugwash stands at 15,100 and has witnessed a 2% growth. This demographic expansion contributes to the increasing demand for housing and helps sustain the upward trend in property values.
Investment Opportunities and Potential
Given the steady appreciation in property values, Pugwash presents itself as an attractive opportunity for investors. The consistent growth in house prices may offer long-term capital gains for those investing in residential properties. Similarly, the rise in apartment values points towards a robust rental market that could benefit from increasing rent yields over time.
Investors should also consider the potential for vacation rentals or seasonal accommodations due to Pugwash’s picturesque coastal setting. With tourism being a significant economic driver in Nova Scotia, properties tailored to short-term stays could capitalize on the influx of visitors during peak seasons.
Future Market Outlook
The future market outlook for Pugwash is optimistic. With ongoing population growth and sustained interest in both house and apartment markets, it is expected that property values will continue to rise at a steady rate. The local economy’s diversification and investment in infrastructure are likely to bolster confidence among buyers and investors alike.
However, it’s essential for stakeholders to monitor external factors such as interest rates, governmental housing policies, and broader economic conditions that could affect affordability and investment attractiveness. Nonetheless, if current trends persist, Pugwash’s real estate market is poised for continued positive momentum.
