Hemford, 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 (2025) | 15,000 |
| Previous Population (2020) | 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 Hemford, Nova Scotia is currently experiencing a period of steady growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This indicates a healthy demand for housing, likely driven by the area’s growing amenities and quality of life. Similarly, the median apartment price has seen a growth to $300,000, which is at a slightly slower pace with a 2.1% increase year-over-year.
The population of Hemford has grown to 15,000 residents, marking an impressive growth rate of 7.1%. This influx is likely contributing to the increased demand for housing and supports the current upward trend in property values. Despite this growth, the market appears to be balanced, avoiding the extreme price spikes seen in some hot markets.
Investment Opportunities and Potential
Hemford presents several attractive investment opportunities. The consistent rise in property values suggests that purchasing residential real estate could lead to significant returns over time. Investors looking at long-term capital gains should consider single-family homes due to their stronger appreciation rate. Moreover, the steady increase in apartment prices also offers potential for those interested in catering to individuals and smaller households who may prefer apartment living.
The ongoing population growth indicates a continued need for rental properties. Thus, investing in rental properties could be strategically beneficial, with potential for both cash flow and asset appreciation as the market continues to expand.
Future Market Outlook
The future outlook for Hemford’s real estate market remains optimistic. Given the solid population growth and consistent rise in property values, it is expected that the demand for housing will continue to support market stability and growth. Assuming no significant economic disruptions occur, Hemford’s market appears poised for sustained growth.
The local economy’s diversification and strength will play critical roles in supporting this outlook. Should these positive trends continue—combined with potential investment in infrastructure and community amenities—the real estate market in Hemford is likely to remain an attractive option for both homebuyers and investors alike.
