Hopewell, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.4% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 15,000 |
| Population Change | 1.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Hopewell, Nova Scotia is currently experiencing a period of steady growth. The median house price in the area stands at $485,000, indicating a year-over-year increase of 3.2%. This suggests a healthy demand for housing and a competitive market environment. Similarly, the median apartment price is $295,000, with a more modest growth rate of 2.4% year-over-year. These trends are reflective of a balanced market that is both accessible to new buyers and rewarding for sellers.
Investment Opportunities and Potential
Considering the consistent appreciation in property values, Hopewell presents viable investment opportunities for both residential and rental properties. The market’s stability is underscored by the region’s population growth of 1.33%, signaling ongoing demand for housing as the community expands. Investors can potentially capitalize on the growth trajectory by acquiring assets that will likely appreciate over time, particularly given the robust performance of house prices compared to apartments.
Future Market Outlook
The future real estate market outlook for Hopewell remains positive, with projections leaning towards continued growth. Population expansion is anticipated to persist, further fueling housing demand. The steady increment in property values reflects a market that has not yet reached its peak, thus providing room for future appreciation. Assuming no major economic disruptions occur, investors and homeowners can expect sustained increases in property values in line with current trends.
