Whitehead, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Whitehead, Nova Scotia is currently experiencing a period of steady growth. The median house price in this market is $500,000, which represents a year-over-year increase of 3.5%. This rate of growth indicates a healthy demand for single-family homes, likely driven by both local buyers and those looking to move to the area.
In comparison, the median apartment price stands at $300,000, with a more modest year-over-year appreciation of 2.1%. This suggests that while the apartment market is growing, it is doing so at a slower pace than the housing market, possibly due to different demographic trends or investor preferences within Whitehead.
The population of Whitehead has seen significant growth, with an increase of 7.1%, bringing the total population to approximately 15,000 residents. This rapid population growth can be a driving force behind the demand for housing and may continue to put upward pressure on property prices if the supply remains constrained.
Investment Opportunities and Potential
For investors considering Whitehead’s real estate market, there are several opportunities to explore. The consistent rise in house prices suggests that investment in single-family homes could yield favorable returns as equity grows over time. Additionally, new development projects catering to this growing population could present further opportunities for investment in residential construction or renovation projects.
The apartment sector presents potential for long-term rental income streams. With a slower growth rate in prices compared to houses, the entry point for investment may be more accessible for some investors, especially those looking at multi-unit residential properties.
Given the robust population growth, there is also potential for commercial real estate investments as businesses expand and new enterprises emerge to serve the increasing number of residents.
Future Market Outlook
The future outlook for Whitehead’s real estate market remains optimistic based on current trends and demographic data. If the population continues to grow at the current rate or higher, demand for residential properties is likely to remain strong. This would continue to drive property values upward unless there is a significant increase in housing supply.
An important factor that could impact this outlook would be economic conditions both locally and nationally. Factors such as employment rates, interest rates, and overall economic health will influence buyer capacity and confidence.
In conclusion, Whitehead’s real estate market appears poised for continued growth based on current trends. Investors should monitor local developments closely, including any changes in zoning laws or infrastructure improvements that could affect property values. Careful analysis of market conditions and trends will be essential for making informed investment decisions in this dynamic market.
