Mushaboom, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $490,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $490,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $400,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 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
1. Current Market Conditions and Trends
The real estate market in Mushaboom, Nova Scotia, is currently experiencing a period of moderate growth. The median house price in the area stands at $490,000, showing a steady increase with a 4% year-over-year growth rate. This suggests a healthy demand for housing that is likely driving up prices at a sustainable pace.
On the other hand, apartments are slightly more accessible, with a median price of $295,000 and witnessing a more modest growth trend of 2.5% year-over-year. The slower growth rate for apartments as compared to houses might reflect a market where buyers are favoring more spacious living accommodations or where investors see greater value in purchasing houses.
The population of Mushaboom has been growing at a rate of 3.3%, which is relatively high and could be contributing to the increased demand for housing. This demographic trend is an important driver of the real estate market conditions and can be expected to sustain the current upward trajectory of property values if it continues.
2. Investment Opportunities and Potential
The current trends in Mushaboom’s real estate market present several investment opportunities. Given the steady population growth and consistent rise in property values, both residential properties and rental units offer potential for capital appreciation and stable rental income.
Houses seem to be particularly attractive investments due to their higher appreciation rate. Investors looking to capitalize on value increases might consider single-family homes or larger properties that can accommodate the growing population’s needs.
Apartments also offer investment potential, especially for those looking to enter the market at a lower price point or cater to individuals who may not be ready to purchase a home. With the moderate appreciation rate for apartments, investors could benefit from long-term equity build-up while providing much-needed rental options in the community.
3. Future Market Outlook
The future outlook for Mushaboom’s real estate market appears positive given current trends and data. If population growth remains strong and economic conditions stay favorable, we can expect continued demand for housing which should support ongoing property value increases.
However, it is important to monitor external factors such as interest rates, employment levels, and broader economic indicators that can impact buyer affordability and influence market dynamics.
In summary, Mushaboom presents an appealing market with solid fundamentals for both homebuyers and investors alike. Those considering entering the market should do so with an understanding of these dynamics and keep an eye on local developments that may affect future performance.
