Wolfville, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $510,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $430,000 |
| 3 bedrooms | $510,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
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 Wolfville, Nova Scotia, has been witnessing moderate growth with respect to property values. As of recent statistics, the median house price in Wolfville stands at $510,000, exhibiting a year-over-year increase of 4%. The upward trend suggests a stable and growing demand for houses in the region.
In contrast, the market for apartments shows a slightly less robust yet consistent increase in value. The median apartment price is currently $315,000, with a year-over-year growth rate of 2.5%. This trend indicates a steady but slower appreciation in the apartment sector compared to houses.
The population of Wolfville is approximately 15,500 residents, with a notable growth rate of 3.3%. This demographic expansion is likely contributing to the sustained demand for housing in the area.
Investment Opportunities and Potential
The solid growth trends in Wolfville’s housing market present potential opportunities for investors. The consistent increase in median house prices suggests that investment in residential property could yield favorable returns. Additionally, the steady population growth reinforces the potential for sustained demand, which bodes well for long-term property investments.
Apartments offer an alternative investment route with lower entry costs compared to houses. Although the appreciation rate for apartments is more modest, they may represent an attractive investment opportunity for those seeking more affordable options or looking to cater to segments of the market that prefer renting over homeownership.
Potential investors should also consider local economic factors, development projects, and municipal plans that could impact future property values and rental demand in Wolfville.
Future Market Outlook
The future outlook for the Wolfville real estate market remains optimistic given current trends and demographic projections. The ongoing population growth implies a continued need for housing which could sustain or possibly increase current property value appreciation rates.
A key factor influencing future market dynamics will be how local infrastructure and amenities evolve to accommodate the growing population. Should there be significant investments in these areas, property values could see an enhanced boost due to improved livability and attractiveness of Wolfville as a residential destination.
In conclusion, careful monitoring of both macroeconomic indicators and local developments will be essential for accurately predicting future movements in the Wolfville real estate market. Investors and stakeholders should stay informed on regional trends to make strategic decisions aligned with long-term market prospects.
