Freeport, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $345,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,900 |
| Population Change | 2.0% |
| 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 in Freeport, Nova Scotia
The real estate market in Freeport, Nova Scotia, currently presents a stable environment with modest growth. The median house price stands at $495,000, reflecting a year-over-year increase of 3.2%. This suggests a healthy demand for single-family homes coupled with a steady supply that does not inflate prices excessively.
Similarly, the apartment sector is experiencing growth, albeit at a slightly lower rate of 2.5% year-over-year, with the median apartment price being $295,000. This indicates a consistent but controlled expansion in the multi-family dwelling segment of the market.
Freeport’s population has grown by 2% to reach 15,200 residents. This growth rate supports the increasing housing prices as more people look to settle in the area, boosting demand for housing.
Investment Opportunities and Potential in Freeport
The current trends suggest that Freeport offers promising investment opportunities particularly for those looking to enter the single-family home market or expand their portfolio into apartments. With prices steadily increasing, investors could benefit from capital appreciation over time.
Given the town’s population growth and corresponding demand for housing, new developments and refurbishment projects may offer lucrative returns. Investors can also explore rental properties as an avenue for generating regular income, especially since market stability could attract long-term tenants seeking residential stability.
Future Market Outlook for Freeport’s Real Estate
The future outlook of the Freeport real estate market appears optimistic. Assuming that local economic conditions remain favorable and the population continues to grow at a similar pace, demand for housing should persist. Consequently, this could lead to sustained or possibly increased rates of appreciation in house and apartment prices over the coming years.
However, potential investors and homeowners should monitor interest rate trends and economic policies that could affect affordability and borrowing costs. Infrastructure developments and employment opportunities within the region will also play pivotal roles in shaping the market dynamics.
In conclusion, while careful consideration of macroeconomic factors is advisable, Freeport presents itself as an appealing market with solid fundamentals supporting its ongoing growth and investment potential.
