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
In Masstown, Nova Scotia, the real estate market is characterized by steady growth and relatively affordable pricing. The median house price in the area currently stands at $500,000, displaying a consistent year-over-year increase of 3.5%. This suggests a stable market with sustained demand for single-family homes. Similarly, the median apartment price is set at $300,000, which has also seen a year-over-year rise, albeit at a slower rate of 2.1%. The housing market’s progression reflects a balanced condition where both buyers and sellers can find opportunities.
Investment Opportunities and Potential
The current steady increase in property values in Masstown indicates that it is an opportune time for investors to consider entering the market. Given the 7.1% population growth, there is potential for rental properties to become increasingly in demand. This growth can be attributed to the region’s economic development and its attraction as a residential destination for those seeking both urban amenities and rural charm.
Investors should note that while the increases in property prices are moderate, they have been consistent, which could point towards a longer-term appreciation trend. Thus, investing in properties now could yield significant returns over time as the community continues to expand and attract new residents.
Future Market Outlook
The future outlook for Masstown’s real estate market appears promising given recent trends and demographic data. With a strong population growth rate of 7.1%, there is likely to be continued demand for housing, both owned and rented. As such, prices may continue to see an upward trajectory, although it’s important for investors to remain vigilant about economic factors that could affect this growth.
The ongoing development of local infrastructure and amenities will likely bolster property values further, making Masstown an attractive area for buyers seeking a blend of lifestyle quality and investment potential. Investors should monitor market conditions closely but can be cautiously optimistic about the medium to long-term prospects of the Masstown real estate market.
