Wileville, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $385,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $605,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,000 |
| Population Change | 5.1% |
| Total Private Dwellings | 6,200 |
| 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 Wileville, Nova Scotia is currently experiencing a period of moderate growth. With a median house price of $495,000 and a year-over-year increase of 3.2%, the market is showing signs of steady appreciation. This trend is reflective of the overall stability in the housing sector within the region.
In contrast, the apartment market is witnessing a slower pace of growth with a median price of $295,000 and an annual appreciation rate of 1.9%. This suggests that while apartments are gaining value, they are doing so at a more modest rate compared to houses.
The population of Wileville stands at 15,200 residents, having grown by 5.14%. This demographic expansion could be indicative of a healthy local economy and contributes to sustained demand for housing within the area.
Investment Opportunities and Potential
The consistent rise in median house prices points to an underlying strength in Wileville’s property market. Investment in residential properties could be promising given the combination of price growth and population increase. Houses, with their higher appreciation rate, present opportunities for investors looking for assets with potentially higher returns over time.
Apartments, while appreciating at a slower rate, may offer attractive investment opportunities for those seeking more affordable entry points into the real estate market or lower maintenance properties.
Focusing on neighborhoods undergoing development or areas that are benefiting from infrastructural improvements could also yield investment potential as these factors often lead to increased property values.
Future Market Outlook
The future outlook for Wileville’s real estate market appears cautiously optimistic. The ongoing population growth is likely to continue fueling housing demand. If economic conditions remain favorable and interest rates stable, this trend should support further property value increases.
The current growth trends in house prices suggest that Wileville will maintain its trajectory of steady appreciation. However, it is essential for investors to monitor economic indicators such as employment rates, GDP growth, and broader provincial real estate dynamics to anticipate any shifts in the market.
Overall, Wileville’s real estate market presents both immediate opportunities for investment and positive long-term prospects contingent upon regional economic health and continued demographic expansion.
