Kolbec, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| 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 Kolbec, Nova Scotia is currently experiencing steady growth. With a median house price of $485,000, the market has seen a 4% year-over-year increase, indicative of a healthy demand for housing in the area. Similarly, the median apartment price stands at $295,000, having risen by 2.5% from the previous year. The population of Kolbec has been expanding at a rate of 3.3%, which supports the ongoing demand for residential properties and suggests a robust local economy that could sustain future real estate investments.
Investment Opportunities and Potential
For investors considering the Kolbec real estate market, there are promising opportunities particularly in residential properties. The consistent rise in property values reflects a market that has investment potential for both short-term gains and long-term appreciation. Given the population growth, there is likely to be continued demand for housing, making rental properties an attractive option for investors looking to capitalize on rental income in addition to property value increases. The more modest growth rate in apartment prices may present an entry point for investors who are looking for more affordable investment options with steady growth prospects.
Future Market Outlook
The future outlook of Kolbec’s real estate market appears positive. Population growth is a key driver of housing demand and with a 3.3% increase, it suggests that the area will continue to attract residents seeking employment or lifestyle changes. The consistent appreciation of house and apartment prices indicates a stable upward trajectory that bodes well for investors and homeowners alike. While no market is without risk, current trends and demographic factors suggest that Kolbec’s real estate market is poised for sustained growth over the coming years.
