Habitant, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $492,000 |
| 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 | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $492,000 |
| 4 bedrooms | $615,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| 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
The real estate market in Habitant, Nova Scotia, is currently experiencing steady growth. The median house price in the area is $492,000, reflecting a year-over-year increase of 3.2%. This suggests a healthy demand for housing that is driving prices upward at a moderate pace. Similarly, the median apartment price has grown to $295,000, with a slightly lower year-over-year increase of 2.5%. The incremental growth in apartment prices indicates a consistent but more modest demand for this type of property.
The local population has reached 15,500 with a robust growth rate of 3.3%. This demographic trend is likely contributing to the sustained demand for real estate in Habitant and may continue to do so as the population expands.
Investment Opportunities and Potential
Investors considering the Habitant real estate market have various opportunities to capitalize on. The steady increase in property values suggests that buying residential properties could yield profitable returns over time. Single-family homes are particularly appealing due to their higher appreciation rate. On the other hand, apartments offer an alternative entry point into the market with a lower initial investment requirement while still providing potential for capital gains and rental income.
Given the ongoing population growth, there’s also potential for investment in new residential developments or renovation projects to cater to the increasing demand. Additionally, investors may find opportunities in the commercial real estate sector due to the positive economic implications of a growing population.
Future Market Outlook
The future of the Habitant real estate market looks promising given current trends and demographics. If population growth continues at its current rate or accelerates, it will likely further propel demand for housing across all sectors—residential and commercial alike. As long as supply does not outpace this growing demand significantly, we can reasonably expect property values to continue their upward trajectory.
However, potential investors should monitor local economic factors and broader national economic conditions that may influence interest rates and lending practices as these elements can affect buyer affordability and subsequently impact property values. Careful analysis of these macroeconomic factors will be necessary for making informed investment decisions in Habitant’s real estate market going forward.
