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 stable growth pattern. With a median house price at $500,000, the market has witnessed a 3.5% year-over-year increase. This growth is moderate yet consistent, suggesting that the housing market is healthy and making progress at a sustainable rate. In contrast, the apartment sector is slightly more subdued with a median price of $300,000 and a 2.1% annual appreciation rate. This indicates that while apartments are appreciating in value, they are doing so at a slower pace compared to houses.
Investment Opportunities and Potential
The investment potential in Whitehead’s real estate market is promising, particularly for those interested in residential properties. Given the steady increase in house prices and the town’s population growth rate of 7.1%, investors can anticipate continued demand for housing. This demographic trend suggests an influx of residents seeking homes, which could drive prices upward over time.
Apartments present a different but equally compelling investment opportunity. With prices growing at 2.1% year-over-year, investors might find this segment of the market to be a more accessible entry point with potential for long-term gains as rental demand may increase with population growth.
Future Market Outlook
The future outlook for Whitehead’s real estate market appears optimistic. The combination of steady growth in property values and significant population expansion creates an environment ripe for continued real estate development and investment.
As the population grows and more individuals are drawn to Whitehead, it stands to reason that both the rental and buyer markets will prosper. This will likely stimulate further construction and development projects to meet demand. Consequently, investors who enter the market now may see considerable returns as the region continues to expand and develop.
In conclusion, Whitehead offers robust opportunities for real estate investment with its growing population and stable property value increases. Prospective buyers and investors should monitor local market trends closely as these positive indicators suggest that now might be an opportune time to consider investing in this dynamic market.
