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
Current Market Conditions and Trends
The real estate market in Hubbards, Nova Scotia, is currently experiencing a period of steady growth. With a median house price of $500,000, the market has seen a 3.5% year-over-year increase, indicating healthy demand for single-family homes. Similarly, the median apartment price stands at $300,000 with a slightly lower growth rate of 2.1% year-over-year. This suggests that while apartments are appreciating, they are doing so at a less aggressive pace than houses.
The population of Hubbards has grown by 7.1%, which is significantly contributing to the increased demand for housing in the area. This robust population growth signals a dynamic market that is attracting new residents and, consequently, bolstering real estate values.
Investment Opportunities and Potential
Given the consistent rise in property values and the strong population growth, Hubbards presents several attractive investment opportunities. The upward trend in house prices suggests that purchasing residential properties could yield solid returns over the medium to long term. Investors might also consider tapping into the rental market, which is likely to be buoyant due to the influx of new residents.
For those looking at more affordable investment options or diversifying their portfolios, apartments offer a viable alternative with a positive appreciation trend as well. The lesser rate of growth for apartment prices compared to houses may appeal to investors seeking entry points at a lower market price while still participating in the region’s overall real estate appreciation.
Future Market Outlook
The future outlook for Hubbards’ real estate market remains optimistic. The continuous population increase will likely sustain demand for both housing purchases and rentals. If current trends persist, investors can expect ongoing appreciation in property values across different segments of the market.
However, it is important for potential investors and stakeholders to monitor economic factors such as interest rates and employment levels that could influence buyer affordability and impact real estate values accordingly. Additionally, keeping an eye on development plans within Hubbards could provide insights into areas poised for greater growth or shifts in the housing supply landscape.
