Masstown, 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 Masstown, Nova Scotia, currently presents a stable environment with consistent growth. The median house price stands at $500,000, indicating a solid year-over-year increase of 3.5%. This steady rise suggests a healthy demand for single-family homes, likely driven by both local factors and broader provincial trends.
In comparison, the apartment sector shows a more moderate growth pattern. The median apartment price is $300,000 with an annual appreciation rate of 2.1%. While this is lower than the increase in house prices, it still reflects a positive trajectory that may appeal to investors looking for lower entry points into the property market. These trends are occurring against the backdrop of an expanding population in Masstown, which has seen significant growth of 7.1%, suggesting an increasing need for housing in the area.
Investment Opportunities and Potential
The current market conditions in Masstown reveal several promising investment opportunities. The continuous rise in house prices may attract investors interested in purchasing single-family homes for long-term capital gains or rental income. Given the population growth, demand for housing is likely to persist, potentially leading to higher rental yields and occupancy rates.
Apartments offer a different investment profile with their lower price point and steady appreciation. Investors may find this segment particularly appealing for diversification or as a starting point for building a real estate portfolio in Masstown. Furthermore, as the community continues to grow, there may be untapped potential for new developments or conversions to meet the evolving housing needs.
Future Market Outlook
Looking ahead, the future market outlook for Masstown is cautiously optimistic. If current trends continue, we can expect ongoing price appreciation across both houses and apartments, albeit at a sustainable pace that could help avoid overheating of the market. Population growth will likely remain a key driver for demand, which should support the real estate market’s stability.
Investors should monitor potential economic changes that could impact interest rates and employment levels, as these factors will influence buyer affordability and appetite for real estate investments. Nevertheless, given Masstown’s current trajectory and its attraction as a desirable place to live within Nova Scotia, the market appears poised for continued growth with opportunities for savvy investors to capitalize on its potential.
