Hubbards, 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
1. Current Market Conditions and Trends
In Hubbards, Nova Scotia, the real estate market is currently experiencing a steady increase in property values. The median house price stands at $500,000 with a year-over-year growth of 3.5%. This suggests a healthy upward trend that signifies consumer confidence and a strong demand for housing in the area. Similarly, the median apartment price has seen an increase to $300,000, growing at a slightly more modest rate of 2.1% year-over-year.
The local market is absorbing new residents as evidenced by the significant population growth of 7.1%, which is substantially higher than the national average. This influx of residents could be contributing to the increased demand for housing and consequently driving prices upwards. The current trend also indicates a balanced market where supply and demand are relatively aligned, avoiding extreme inflation in property values.
2. Investment Opportunities and Potential
Given the steady rise in property values and substantial population growth, Hubbards presents promising investment opportunities. The solid growth in house prices suggests that investments in residential properties are likely to yield favorable returns over time. Additionally, with apartments appreciating at a slower rate than houses, there may be potential for investors to enter the market at a lower price point with expectations for long-term capital appreciation.
Investors should also take note of demographic trends and preferences for certain types of housing; investing in properties that cater to the needs of the growing population could result in higher demand and rental income potential. The diversity of property types ranging from single-family homes to multi-unit apartments allows investors to choose investments that match their strategy and risk profile.
3. Future Market Outlook
Looking forward, the Hubbards real estate market is positioned for continued growth given its robust population increase and consistent rise in property values. If current trends persist, investors can expect ongoing appreciation in both house and apartment prices. However, it is important to remain cognizant of economic factors that may influence interest rates and borrowing costs, potentially affecting buyer activity.
The outlook is optimistic but should be tempered with an understanding that real estate markets are cyclical and subject to regional economic shifts, policy changes, and broader national market influences. As such, while short-to-medium term prospects appear strong based on current data, prudent investors will keep abreast of local and national developments when considering long-term real estate investments in Hubbards.
