Greenhill, 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 (2025) | 15,000 |
Previous Population (2020) | 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
As of the latest data, Greenhill, Nova Scotia represents a real estate market with steady growth. The median house price stands at $500,000, showcasing a year-over-year increase of 3.5%. This increment is indicative of a healthy demand in the housing sector, reflecting consumer confidence and a robust local economy.
The apartment market is also experiencing growth, albeit at a slightly slower pace. With the median apartment price currently at $300,000, there has been an annual appreciation of 2.1%. This trend suggests that apartments are also in demand but might be subject to different market dynamics than houses.
Greenhill’s population has reached approximately 15,000 residents, with a significant population growth of 7.1%. This demographic expansion contributes to the increasing demand for housing in both purchase and rental markets.
Investment Opportunities and Potential
The investment landscape in Greenhill presents considerable opportunities, particularly within residential real estate. Investors could capitalize on the consistent rise in house prices, which may signal a sustained long-term appreciation trend. The growing population further bolsters this potential as new residents seek housing options.
Apartments offer an alternative investment route with their lower entry price point at $300,000 and continued appreciation. These properties may appeal to investors looking for rental income streams given the rising population and its associated housing demand.
Future Market Outlook
Looking ahead, the future of Greenhill’s real estate market appears promising. Given the steady upward trajectory in property values and the robust population growth rate, it is reasonable to anticipate that these trends will continue into the near future.
As long as economic conditions remain favorable and infrastructure development keeps pace with population growth, Greenhill is poised to maintain its current momentum. Investors should monitor key economic indicators and local policy changes that may impact real estate directly or indirectly.