Hampton, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
Median price | $495,000 |
Monthly growth | 1.1% |
Quarterly trend | 3.3% |
Stock on market | 0.6% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.0% |
Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $495,000 |
4 bedrooms | $575,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $330,000 |
3 bedrooms | $420,000 |
Demographics
Current Population (2025) | 15,000 |
Previous Population (2020) | 14,400 |
Population Change | 4.2% |
Total Private Dwellings | 6,200 |
Occupied Private Dwellings | 5,800 |
Population Density (per km²) | 1.5 |
Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Hampton, Nova Scotia, currently shows a steady growth in property values, with the median house price sitting at $495,000, reflecting a year-over-year increase of 3.3%. This increment indicates a healthy demand for housing in the area, supported by both local factors and broader provincial economic conditions.
The market for apartments is also experiencing growth, with the median apartment price at $295,000, which has seen a slightly lower year-over-year rise of 2%. This suggests that while the apartment market is growing, it is doing so at a more moderate pace compared to houses.
The population of Hampton stands at approximately 15,000 residents, having grown by 4.17%. This population increase is likely contributing to the demand for housing and consequently driving up property prices.
2. Investment Opportunities and Potential
In light of the current market conditions, investment opportunities in Hampton appear promising. The consistent growth in house prices may indicate room for capital gains for those investing in residential properties. For investors targeting long-term appreciation, single-family homes could be particularly attractive given their higher growth rate compared to apartments.
Moreover, the rising population suggests a potential increase in rental demand. Investors may also consider the apartment market as an entry point due to its lower median price point and the general trend towards urbanization and smaller household sizes which could boost the apartment sector in the long term.
Given these factors, investors are advised to focus on areas within Hampton that are experiencing significant development or show signs of upcoming infrastructure improvements which typically bolster property values.
3. Future Market Outlook
The future outlook for Hampton’s real estate market remains optimistic. The continued population growth implies sustained demand for housing which should support property values. Assuming current economic conditions persist and no major policy changes occur that significantly affect the housing market, moderate but steady growth can be expected.
Potential risks include economic downturns or significant shifts in interest rates that could dampen buyer enthusiasm and affect mortgage affordability. However, assuming stable conditions, investment in Hampton’s real estate is positioned to remain an attractive option with both capital appreciation and rental income as viable strategies for returns.