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 currently experiencing steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the housing segment shows resilience and a consistent uptrend. Similarly, the apartment sector is also witnessing growth, albeit at a slightly slower pace, with a median price of $300,000 and an annual trend rising by 2.1%. This incremental growth pattern suggests that the market is stable yet expanding modestly.
The population of Auburn has seen a significant increase of 7.1%, indicating a growing demand for residential properties. The consistent population growth contributes to a dynamic real estate market with sustained demand for housing, both in ownership and rental capacities.
Investment Opportunities and Potential
The data reveals attractive investment opportunities in Auburn’s real estate market. The consistent upward trend in property values suggests that investing in local real estate could yield positive returns. Both sectors—housing and apartments—are experiencing price appreciation, though houses are appreciating at a faster rate. This difference indicates potential for both short-term gains through flipping properties and long-term gains through rental income streams and capital appreciation.
Given the population growth rate, there is potential for new development projects to cater to the increasing demand. Investors might consider developing multi-unit residential buildings or subdivisions to take advantage of the expanding market base.
Future Market Outlook
Looking forward, the Auburn real estate market appears poised for continued growth. The steady increase in property values coupled with robust population growth signals ongoing demand and investment potential. If current trends persist, investors can reasonably expect sustained appreciation in property values over the coming years.
However, it’s important to monitor economic factors that could affect the market such as employment rates, interest rate changes, and broader national economic trends. Monitoring these factors will be crucial in forecasting any shifts in the momentum of Auburn’s real estate market.
In summary, Auburn presents a promising landscape for both seasoned and new investors due to its stable growth patterns and expanding population. Stakeholders are encouraged to engage with local market experts to tailor their investment strategies according to their financial goals and risk appetite.
