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
In Greenhill, Nova Scotia, the real estate market is currently experiencing steady growth. With a median house price of $500,000, there has been a year-over-year increase of 3.5%. This trend indicates a healthy demand for single-family homes in the region. The median apartment price stands at $300,000, which has appreciated at a slower rate of 2.1% over the same period. This slower rate of growth for apartments suggests that while there is interest in more affordable housing options, the demand is not as robust as for houses.
The population of Greenhill has been growing at a significant pace with a 7.1% increase, suggesting an influx of new residents and potential homebuyers. This demographic shift is likely contributing to the sustained demand for housing in Greenhill and can be anticipated to continue influencing market conditions positively.
Investment Opportunities and Potential
For investors looking at Greenhill’s real estate market, single-family homes present compelling opportunities due to their stronger appreciation rate compared to apartments. The consistent population growth positions these properties as potentially lucrative investments with expectations for continued demand.
Apartments offer a more accessible entry point into the real estate market with their lower median price point. Although their appreciation is more modest, they may represent a stable investment choice due to the overall market growth and demographic trends favoring an increase in smaller households or individuals seeking affordable housing solutions.
Future Market Outlook
The future outlook for Greenhill’s real estate market remains optimistic. Given the steady year-over-year price increases for both houses and apartments, along with significant population growth, it is reasonable to project that demand will persist. As the local economy adapts to accommodate new residents, further infrastructure development and services are expected to follow suit—potentially leading to even greater interest in Greenhill real estate.
With no indications of market saturation or decline in population influx, investors and homebuyers can have a degree of confidence in the stability and potential long-term growth of property values in Greenhill. Monitoring economic factors such as employment rates and regional developments will be key for those looking to capitalize on future trends in this emerging market.
