Auburndale, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Auburndale, Nova Scotia is experiencing a steady increase in property values. The median house price currently stands at $495,000, with a positive growth trend of 3% year-over-year. This suggests a stable and growing demand for houses in the area. Similarly, apartments are showing a healthy appreciation as well, with the median price at $310,000 and an annual growth rate of 2.5%. This growth is reflective of an overall healthy market that is attractive to homeowners and investors alike.
Alongside pricing trends, the population of Auburndale has seen a significant increase of 2.7%, signalling a growing community that could further drive demand for housing. As more people move to the area seeking employment opportunities or the lifestyle offered by Auburndale, this influx can be expected to maintain or even increase current housing market trends.
Investment Opportunities and Potential
Investors looking towards Auburndale will find potential in both the single-family home segment and the apartment market. Given the steady appreciation in property values, purchasing residential real estate now could yield considerable returns over the medium to long term. Moreover, the population growth indicates an increasing demand for rental properties, making buy-to-let investments particularly appealing.
For those interested in immediate cash flow, apartments may present a lower entry point at $310,000 compared to houses. Given their 2.5% year-over-year growth rate, apartments also offer a solid investment opportunity with potential for both capital gains and rental income. Investors should also consider exploring new developments or areas within Auburndale that might benefit from upcoming infrastructure projects or commercial investments that could boost local property values further.
Future Market Outlook
The future market outlook for Auburndale’s real estate remains positive based on current data. If the population continues to grow at its current pace of 2.7%, demand for housing will likely continue to rise, underpinning the strength of the market. The consistent growth in house and apartment prices indicates that there is ongoing confidence among buyers and investors in the region’s economy and its real estate market.
However, investors should remain vigilant about wider economic factors such as interest rates, employment rates in Nova Scotia, and any changes in provincial or federal housing policies which may impact the market conditions. Keeping an eye on these variables will be important when predicting longer-term trends beyond current statistics.
In conclusion, Auburndale presents itself as a robust market with healthy growth indicators for both residential and rental properties. Prospective buyers and investors would do well to consider this vibrant Nova Scotian community for their next real estate venture.
