Guysborough, 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 | 2.0% |
Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $495,000 |
4 bedrooms | $620,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $340,000 |
3 bedrooms | $450,000 |
Demographics
Current Population (2025) | 15,500 |
Previous Population (2020) | 15,000 |
Population Change | 3.3% |
Total Private Dwellings | 6,100 |
Occupied Private Dwellings | 5,700 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Guysborough, Nova Scotia, has shown steady growth, evidenced by the median house price of $495,000, which reflects a year-over-year increase of 3.2%. This increment is indicative of healthy demand and a competitive market environment. In contrast, the apartment sector presents a more modest growth trend with the median price standing at $295,000, and a year-over-year increase of 2%. The area’s population growth of 3.3% aligns with the increasing property values, suggesting an influx of residents fueling demand for housing.
2. Investment Opportunities and Potential
Investment opportunities in Guysborough appear promising, particularly in the housing segment. With median prices showing consistent appreciation, investors can reasonably anticipate continued capital gains. Rental properties also present potential given the population increase. The slower appreciation rate in the apartment sector may appeal to investors seeking more affordable entry points into the real estate market or those looking for rental income opportunities in anticipation that demand will continue to grow alongside the population.
3. Future Market Outlook
The outlook for Guysborough’s real estate market remains optimistic. Population growth at a rate of 3.3% suggests ongoing demand for residential properties. If economic conditions remain stable and interest rates are favorable, the housing market is expected to maintain its upward trajectory. However, potential investors should remain aware of broader economic trends and their impact on local real estate dynamics to make informed decisions.