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 | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $380,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| 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 moderate increase in property values. The median house price in the area is $495,000, with a year-over-year increase of 3.2%. This trend indicates a steady growth and a healthy demand for housing in the region. Similarly, the apartment sector is also witnessing growth, albeit at a slightly slower pace with a 2% year-over-year increase, bringing the median apartment price to $295,000.
Wileville’s population has grown by 3.3%, which may attribute to the consistent demand for housing. This demographic development suggests that the market is expanding and could potentially drive further growth in real estate prices due to increased demand.
Investment Opportunities and Potential
The current trends present various investment opportunities in Wileville’s real estate market. With both the housing and apartment markets showing positive price trends, investors could potentially benefit from capital gains over time. The robust population growth further supports the potential for rental investments as more individuals are likely to seek housing in the area.
Given that the market is not experiencing an exorbitant increase in prices, there may be opportunities for investors to enter the market before prices potentially escalate further. The steady growth pattern shown can also be appealing for long-term investors who are looking for sustainable appreciation rather than speculative short-term gains.
Future Market Outlook
The future outlook for Wileville’s real estate market appears promising. If current trends continue, with ongoing population growth and consistent increases in property values, the market looks set to maintain its upward trajectory. However, it is important to note that external economic factors such as interest rate changes, employment rates, and broader economic health can impact local real estate markets.
Assuming stability in these external factors, Wileville’s real estate market should remain attractive both for primary residence buyers and for investors seeking stable returns on investment properties. Continued monitoring of local and national economic indicators will be essential to understand any shifts in the market dynamics that could affect future trends.
