Hebbville, 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 (2024) | 15,000 |
| Previous Population (2019) | 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
The real estate market in Hebbville, Nova Scotia, is currently experiencing steady growth. The median house price stands at $500,000, marking a year-over-year increase of 3.5%. This indicates a healthy demand for homes in the area, possibly driven by both local buyers and those looking to relocate to Hebbville. Similarly, the apartment sector has seen a growth trend, with the median apartment price at $300,000 and an annual appreciation rate of 2.1%. The population of Hebbville has reached approximately 15,000 residents, reflecting a significant growth rate of 7.1%. This population increase can be attributed to Hebbville’s attractiveness as a residential location and may be fueling the housing demand.
Investment Opportunities and Potential
The positive trajectory in housing prices suggests that Hebbville holds promising investment opportunities. Investors could benefit from the continuous appreciation of property values in both the single-family homes and apartment segments. Given the robust population growth, there is potential for rental properties to generate stable rental income streams as well as capital gains over time. New developments catered towards accommodating the growing population could be particularly lucrative. Moreover, with single-family homes appreciating at a faster rate than apartments, they may offer a higher potential for short-to-medium-term capital growth.
Future Market Outlook
The future outlook for Hebbville’s real estate market appears optimistic. Considering the steady rise in property values alongside significant population growth, we can anticipate continued demand for housing in the area. If these trends persist, investors and homeowners could see further appreciation in their property investments. It is important to monitor economic factors that could influence buyer purchasing power, such as employment rates and interest rates, as these will also impact future market conditions. However, given current data and trends, Hebbville’s real estate market shows promise for sustained growth in the foreseeable future.
