Hebron, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Hebron, Nova Scotia is currently experiencing a period of moderate growth. With a median house price of $485,000 and an observed year-over-year increase of 3%, the market is showing healthy signs of appreciation. This trend underlines a steady demand for housing in the area. Likewise, apartments are also seeing a rise in value, albeit at a slower rate of 1.5% year-over-year, with the current median price at $295,000.
The population of Hebron has been growing at a rate of 3.33%, which suggests that there is an increasing number of potential homebuyers and renters entering the market. This demographic shift could be contributing to the sustained demand for residential property and may indicate a robust economic environment conducive to real estate investments.
Investment Opportunities and Potential
Given the positive trends in population growth and property appreciation rates, Hebron presents appealing investment opportunities. Specifically, the housing market’s steady capital growth provides investors with confidence in the long-term value retention and appreciation potential. Furthermore, with apartment prices growing at a slower pace than houses, there may be untapped potential in this segment for investors seeking to capitalize on rental income from a burgeoning population looking for more affordable housing options.
Additionally, as the population continues to grow, there will likely be an increased need for diverse types of housing. Investors could explore various avenues such as new residential developments, renovation projects to modernize existing properties, or expanding into niche markets like senior living accommodations or eco-friendly homes.
Future Market Outlook
Projecting into the future, Hebron’s real estate market appears poised for ongoing growth. The consistent population increase coupled with present housing trends suggests that demand for both purchasing and renting will remain robust. If these demographic and economic conditions persist, it is reasonable to anticipate that both house and apartment prices may continue on their upward trajectory.
However, it is essential to consider external factors such as economic policies, interest rates, and regional employment opportunities that could influence market dynamics. Investors should keep abreast of local developments and broader economic indicators to make informed decisions.
In summary, Hebron’s real estate market offers solid prospects for investors based on current data trends and demographic growth patterns. While the outlook remains positive, continuous monitoring of market conditions is advised to identify any shifts that may impact investment strategies.
