Hillsburn, 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 Hillsburn, Nova Scotia, is experiencing steady growth. The median house price currently sits at $500,000, which reflects a year-over-year increase of 3.5%. This indicates a healthy demand for single-family homes in the area. Similarly, the median apartment price has reached $300,000, with a slightly lower growth rate of 2.1% year-over-year. This suggests that while there is interest in multi-family dwellings, the market for apartments is not as robust as that for houses.
The population of Hillsburn has grown to 15,000 residents, reflecting a substantial growth rate of 7.1%. This demographic expansion could be a driving force behind the steady appreciation in property values and indicates a vibrant community that may continue to attract new residents and investment.
Investment Opportunities and Potential
The current trends suggest that Hillsburn has significant potential for real estate investment. Given the rising median prices for both houses and apartments, investors could benefit from capital gains over time. The consistent population growth further supports the potential for rental properties due to increased housing demand.
The fact that house prices are growing at a faster pace than apartment prices could suggest that single-family homes might offer better long-term investment potential in this market. However, apartments may still be an attractive option for investors looking to enter the market at a lower initial cost or aiming to cater to individuals or smaller households who prefer multi-family living arrangements.
Future Market Outlook
Looking forward, the real estate market in Hillsburn appears poised for continued growth. Population trends are often strong indicators of real estate demand, and with Hillsburn’s robust population increase, it is likely that both rental and purchase demand will remain high.
If current trends continue, we can expect both house and apartment prices to keep rising at a moderate pace. Investors should monitor factors such as interest rates, local economic conditions, and infrastructure developments which could further influence the market dynamics.
In summary, Hillsburn presents an attractive opportunity for those looking to invest in real estate with its growing population and steady price appreciation. While single-family homes currently offer more significant price growth potential, apartments remain an important segment of the market worth considering for diversified investment portfolios.
