Blockhouse, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.2% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| 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 | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Blockhouse, Nova Scotia, shows a steady increase in property values. The median house price currently stands at $485,000, representing a 4.2% year-over-year growth. This consistent upward trend indicates a robust demand for single-family homes. Similarly, the median apartment price has risen to $295,000, albeit at a slower pace with a 2.5% year-over-year increase.
These statistics suggest that the market is experiencing healthy growth. Factors contributing to this growth include the area’s natural beauty, economic stability, and the overall quality of life which continues to attract new residents. The local population has grown by 2.7%, showing signs of an expanding community that may continue to drive housing demand.
Investment Opportunities and Potential
Given the rising house prices and steady population growth in Blockhouse, there are significant opportunities for real estate investment. Single-family homes show strong appreciation potential, as evidenced by the 4.2% annual increase in median prices. Apartments are also proving to be a sound investment with a consistent appreciation trend.
Investors could potentially benefit from both long-term capital gains and rental income in this market. The region’s growing population is likely to sustain the demand for rental properties, which could lead to higher occupancy rates and rental yields for investors considering multi-unit residential buildings or developing new apartment complexes.
Future Market Outlook
The future real estate market outlook for Blockhouse remains positive. The continued population growth of 2.7% will likely sustain demand for housing in the area. If current trends persist, both homebuyers and investors can expect further property value increases in the coming years.
However, as with any investment, potential changes in economic conditions or regional developments should be closely monitored to assess their impact on property values and rental dynamics. Keeping an eye on interest rates, employment rates, and any government incentives for homeownership or development will be crucial for understanding the future trajectory of Blockhouse’s real estate market.
