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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




Hemford, Nova Scotia Real Estate Market Analysis

1. Current Market Conditions and Trends

In Hemford, Nova Scotia, the current real estate market conditions showcase a stable environment for both homebuyers and sellers. The median house price in the area is $500,000, with a year-over-year growth rate of 3.5%. This steady increase in housing prices indicates a healthy demand for homes, reflecting confidence in the local market.

The market for apartments is similarly robust but with a slightly lower growth rate. The median apartment price stands at $300,000, with a trend showing a 2.1% increase year-over-year. This more modest rise in prices could be an indicator of an ample supply or potentially greater affordability relative to houses.

Hemford’s population has seen significant growth, currently standing at approximately 15,000 residents, with a robust growth rate of 7.1%. This influx of new residents may be contributing to the sustained demand for housing in the region.

2. Investment Opportunities and Potential

The steady growth in residential property values coupled with the notable population increase suggests that Hemford presents viable investment opportunities. Investors could benefit from the appreciation of property values over time, particularly if they focus on areas where demand is likely to increase due to population growth.

The more gradual rise in apartment prices compared to houses indicates that investing in multifamily properties could be particularly attractive for those looking to enter the market at a lower point or seeking rental income opportunities. As the population grows, so does the potential pool of renters, which could lead to reduced vacancy rates and stable rental income for investors.

3. Future Market Outlook

The future outlook for Hemford’s real estate market appears optimistic. With continuous population growth and consistent property value increases, it is reasonable to expect that these trends will persist in the near term. Assuming that economic conditions remain favorable and no major disruptions occur, both residential and rental markets should maintain their upward trajectory.

In light of these considerations, potential investors and homebuyers might view Hemford as an attractive market with strong fundamentals supporting its growth. Nevertheless, as with any real estate investment, it is advisable to conduct thorough research and consider local dynamics before making any commitments.