Guysborough, 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 Guysborough, Nova Scotia
In Guysborough, Nova Scotia, the real estate market is currently experiencing moderate growth. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This consistent growth trend suggests a stable and steadily appreciating housing market in the region. Apartments are also following an upward trajectory with a median price of $300,000 and a more modest year-over-year growth of 2.1%. These figures indicate that while both housing markets are growing, houses are appreciating at a faster rate than apartments.
Demographically, Guysborough has seen significant population growth of 7.1%, which can have multiple implications for the real estate market. The increasing population may lead to higher demand for housing, potentially exerting upward pressure on property prices and rental rates due to increased competition for available homes.
Investment Opportunities and Potential in Guysborough
The current trends in Guysborough point to healthy investment opportunities, particularly in the residential property market. With steady growth in property values and an expanding population, investors could anticipate continued demand for both purchasing and rental properties. The higher growth rate in house prices compared to apartments may attract investors looking for capital gains, while the stable appreciation of apartment prices presents an opportunity for those seeking more affordable investment options with potential for long-term yield through renting.
Given the population increase, there is also potential for development and new construction projects to meet the housing needs of the community. Investors might consider exploring these possibilities to capitalize on the burgeoning demand fostered by demographic expansion.
Future Market Outlook for Guysborough
The future real estate market outlook for Guysborough appears positive. The sustained population growth is likely to continue driving demand for housing in the area, which could further boost property values over time. Assuming economic conditions remain favorable and there are no significant external shocks, both median house and apartment prices are expected to maintain their upward trends.
However, it’s important for potential investors and homeowners to stay informed about local developments that could impact the market. Factors such as changes in employment rates, infrastructure improvements, or policy adjustments related to real estate could all influence future market dynamics.
In conclusion, while current trends point towards a promising outlook for real estate investments in Guysborough, careful consideration of ongoing economic conditions and future regional developments is essential for making informed decisions within this market.
