Wilmot, 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 in Wilmot, Nova Scotia
The real estate market in Wilmot, Nova Scotia, is currently experiencing steady growth. The median house price stands at $500,000, which marks a year-over-year increase of 3.5%. This trend suggests a healthy demand for single-family homes, reflecting stability and confidence in the local housing market. Meanwhile, the median apartment price is $300,000, with a more modest annual growth rate of 2.1%, indicating sustained interest in multi-family units.
With a population of 15,000 that has grown by an impressive 7.1%, Wilmot is witnessing demographic expansion likely to fuel demand for housing across various market segments. This consistent population growth can be attributed to factors such as the area’s quality of life, economic opportunities, and natural beauty.
Investment Opportunities and Potential in Wilmot
Investment opportunities in Wilmot are looking positive given the current market trends. Investors may find potential in single-family homes due to the higher growth rate observed in this segment. The increase in house prices indicates a seller’s market where investment properties could appreciate over time and provide robust returns.
Apartments also present a valuable investment opportunity, especially for those looking to cater to smaller households or new residents seeking more affordable entry points into the housing market. As the population continues to grow, rental demand is expected to rise, which could lead to favorable rental yields for investors.
Future Market Outlook for Wilmot
The future real estate market outlook for Wilmot remains optimistic. Ongoing population growth is likely to maintain upward pressure on both housing prices and rental rates. Should current trends persist, we can expect further increases in property values across most housing types.
However, it is essential for potential investors and homeowners to monitor local economic indicators and any changes in migration patterns that could affect supply and demand dynamics. Additionally, staying informed about national policy changes related to mortgage rates or housing regulations will be crucial for making well-informed decisions in this active market.
