Freeport, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 3.8% |
| Stock on market | 0.7% |
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 | $425,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,000 |
| Population Change | 5.1% |
| 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 Freeport, Nova Scotia, is currently experiencing moderate growth. The median house price stands at $495,000, which reflects a year-over-year increase of 3.8%. This steady upward trend indicates a healthy demand for single-family homes in the area. Similarly, the median apartment price has reached $295,000, with a year-over-year growth of 2.5%. This suggests that the market for apartments is also expanding, albeit at a somewhat slower pace than houses.
The population of Freeport has grown to 15,200 residents, marking a notable increase of 5.14% in recent years. This demographic expansion contributes to the heightened demand for housing and supports the continuous appreciation of property values in the region.
Investment Opportunities and Potential
In light of the current market trends, Freeport offers promising investment opportunities. The consistent growth in housing prices points towards a resilient market with potential for long-term capital gains. Investors looking to purchase residential properties can expect continued appreciation, particularly if they are willing to hold their assets over an extended period.
The robust population growth further enhances the investment appeal of Freeport’s real estate market. A growing population often translates into increased rental demand, suggesting that landlords could benefit from higher occupancy rates and rising rental yields. Additionally, new development projects could be incentivized to meet the housing needs of this expanding community.
Future Market Outlook
The future outlook for Freeport’s real estate market appears positive. Given the steady population growth and sustained increase in property values, it is reasonable to anticipate that these trends will persist in the near term. However, investors should remain vigilant about macroeconomic factors and regional developments that could impact market dynamics.
To maximize investment returns, stakeholders should consider long-term strategies that align with ongoing demographic shifts and housing demand patterns. By focusing on areas within Freeport that are experiencing the most significant expansion or by investing in property types that are likely to see increased popularity among residents, investors can position themselves advantageously within this burgeoning market.
