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 (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 Hillsburn, Nova Scotia is currently experiencing a period of moderate growth. The median house price in the area stands at $500,000, which represents a 3.5% increase from the previous year. This suggests a steady upward trend in property values for detached homes. Meanwhile, apartments in the region are slightly more affordable with a median price of $300,000, having increased by 2.1% year-over-year. This indicates a more gradual appreciation in apartment values compared to houses.
The population of Hillsburn has grown to 15,000 residents, marking a significant growth rate of 7.1%. This demographic expansion has likely contributed to the increased demand for housing and the consequent rise in property prices. With more people moving to the area, there is an expectation for continued demand for both purchasing and renting properties.
Investment Opportunities and Potential
Given the steady rise in property values and the significant population growth, Hillsburn presents promising investment opportunities. The consistent increase in home prices suggests investor confidence and potential for long-term capital gains. Purchasing residential properties for renting could yield profitable returns due to the increasing demand driven by population growth.
Investors looking at apartments can also find value, as the lower growth rate may allow for entry into the market at a relatively accessible price point with room for future appreciation. Additionally, new developments catering to this demographic influx could be lucrative if they align with market demands for housing affordability and lifestyle preferences such as proximity to amenities and work centers.
Future Market Outlook
The future market outlook for Hillsburn is cautiously optimistic. Assuming current trends persist, property values are expected to continue rising, albeit at a sustainable pace. The robust population growth serves as a catalyst for real estate demand and could support steady price increases over time.
However, investors must also consider potential risks such as economic fluctuations that impact employment rates and consumers’ purchasing power which could affect housing demand negatively. Keeping abreast of local development plans and economic policies will be crucial for making informed investment decisions.
In conclusion, Hillsburn’s real estate market shows potential for growth backed by strong population numbers and consistent property value appreciation. Investors should monitor market conditions closely but may find valuable opportunities in this growing Nova Scotian community.