Auburn, 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 (2024) | 15,000 |
| Previous Population (2019) | 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
The real estate market in Auburn, Nova Scotia, is experiencing steady growth with the median house price currently standing at $500,000, reflecting a year-over-year increase of 3.5%. The market for apartments is also trending upwards albeit at a slower pace, with the median apartment price now reaching $300,000 and a year-over-year growth of 2.1%. These trends indicate a stable and growing market.
The town’s population has grown to 15,000 residents, marking a significant increase of 7.1% in population growth. This demographic change suggests increased demand for housing and underlines the potential for further market expansion.
Investment Opportunities and Potential
The consistent rise in property values combined with robust population growth presents appealing opportunities for real estate investors. Single-family homes are particularly promising given their stronger appreciation rate. Furthermore, the growing population signals a potential need for more rental properties, making buy-to-rent investments in both houses and apartments attractive options.
Investors might also consider the development of new residential projects or renovation of existing properties to meet the evolving demands of the local market. Given the current trends, such investments could yield considerable returns over time.
Future Market Outlook
The future real estate market outlook for Auburn, Nova Scotia appears optimistic. The consistent property value appreciation indicates a healthy market that is likely to maintain its upward trajectory. In addition, the substantial population growth serves as an indicator of sustained demand for housing.
If these trends continue, we can anticipate ongoing investment opportunities with potential for long-term capital gains. However, investors should stay informed about local economic developments and infrastructure projects that could influence property values further.
To maximize potential benefits from Auburn’s real estate market, strategic investment decisions based on thorough market analysis and future community planning initiatives will be essential.
