Weymouth, 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 | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.8% |
| 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 | $335,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| 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 Weymouth, Nova Scotia, is currently experiencing a period of moderate growth. The median house price stands at $485,000, with a year-over-year increase of 3.2%. This steady growth suggests that the market is healthy and that properties are appreciating at a reasonable rate. Similarly, the median apartment price has reached $295,000, which represents a more modest year-over-year growth of 1.8%.
The local population has grown to 15,000 residents, marking a significant population growth rate of 3.4%. This increasing demographic trend can be an indicator of a growing economy and can potentially lead to higher demand for housing in the area.
Investment Opportunities and Potential
The stable increase in property values coupled with the ongoing population growth suggests that Weymouth holds promising investment opportunities. Investors could potentially benefit from both capital appreciation and rental income as the demand for housing may continue to rise.
In the context of moderate price increases in the housing market, investors might find single-family homes particularly appealing given their higher appreciation rate compared to apartments. However, apartments should not be overlooked as they offer a more accessible entry point into the real estate market and cater to individuals or smaller households who may prefer renting over homeownership.
Future Market Outlook
Moving forward, the outlook for Weymouth’s real estate market appears cautiously optimistic. Given the current trends and assuming no major economic disruptions occur, one could expect continued but controlled growth in property values. The consistent population rise should sustain demand for housing.
Investors and potential homebuyers should monitor interest rates, employment rates, and broader economic indicators closely as these factors will play crucial roles in shaping the future trajectory of Weymouth’s real estate market. For now, the data points towards a stable market with room for strategic investment opportunities.
