Woodville, 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
1. Current Market Conditions and Trends in Woodville, Nova Scotia
The real estate market in Woodville, Nova Scotia, is experiencing a period of steady growth, as indicated by the year-over-year increase in property values. The median house price has reached $500,000, marking a 3.5% increase from the previous year, which suggests a robust demand for single-family homes. Concurrently, the median apartment price has shown a more modest growth of 2.1%, standing at $300,000.
This growth can be partly attributed to the notable population expansion of 7.1%, which points to an influx of residents seeking housing in the area. With a population now standing at 15,000, demand for real estate is expected to continue to rise as more people move into the region, which could lead to sustained or even increased price growth for both houses and apartments.
2. Investment Opportunities and Potential in Woodville
Given the positive trends in population growth and property value increases, Woodville presents attractive investment opportunities for both residential and rental markets. Investors could benefit from capital gains over time as median house prices continue their upward trend. Similarly, purchasing apartments for rental purposes may yield long-term income streams, especially if demand for rental units grows alongside population increases.
For investors looking at new construction or development projects, the rising demand implied by population growth could signal favorable conditions for new residential complexes or community developments. This potential makes it an opportune time to enter or expand within the Woodville real estate market.
3. Future Market Outlook for Woodville Real Estate
The future outlook for Woodville’s real estate market remains optimistic with several indicators pointing towards ongoing growth. The continued upward trajectory of property values suggests that investment now could offer favorable returns in the medium to long term.
The steady increase in population is likely to sustain demand for housing, potentially pushing prices higher as supply struggles to keep pace with demand. This demographic shift should also support a robust rental market that benefits landlords and property management companies. However, investors should remain mindful of broader economic conditions and potential local changes that could affect market dynamics.
In summary, Woodville’s real estate market shows promise for both immediate investment and future potential thanks to its growing population and consistent appreciation of property values.
