Hubley, 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 in Hubley, Nova Scotia
In Hubley, Nova Scotia, the real estate market is currently characterized by moderate growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is experiencing steady appreciation, indicating healthy demand. Similarly, the median apartment price stands at $300,000, which has seen a slower yet positive year-over-year growth of 2.1%. This suggests that while single-family homes remain in higher demand, apartments are also seeing consistent interest.
The local population has experienced a significant increase of 7.1%, which is likely contributing to the sustained real estate demand. This demographic trend is crucial as it often precedes increased demand for housing across various sectors including rentals, single-family homes, and apartments.
Investment Opportunities and Potential in Hubley
Given the steady growth in both housing prices and population, Hubley presents several attractive investment opportunities. Investors looking to enter the market could consider long-term residential rental properties due to the ongoing influx of residents. The 3.5% growth in house prices suggests that investment in single-family homes could yield favorable returns as equity builds over time.
Apartments, with a more modest appreciation rate of 2.1%, offer potential for investors seeking more affordable entry points into the real estate market or those looking to diversify their portfolios with different property types. The continuous population growth supports the potential for rental income stability and gradual property value increases.
Future Market Outlook for Hubley Real Estate
Looking ahead, there are several indicators suggesting a positive outlook for the Hubley real estate market. The robust population growth rate indicates that demand for housing will likely continue to rise which may lead to increased property values over time. If current trends hold steady or improve, investors could expect continued appreciation in both the house and apartment markets.
However, it’s important to monitor economic factors such as employment rates, infrastructure developments, and interest rates as they can influence market conditions significantly. Assuming a stable economic environment is maintained, Hubley’s real estate market appears poised for ongoing growth.
In conclusion, while no investment is without risk, Hubley’s real estate market data points toward opportunities for both short-term gains through rental income and long-term capital appreciation. Prospective investors should conduct thorough due diligence and consider engaging with local real estate professionals to navigate this promising market effectively.
