Portapique, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,100 |
| 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 Portapique, Nova Scotia, is currently experiencing steady growth. The median house price in the area stands at $495,000, reflecting a year-over-year increase of 4%. This suggests a healthy demand for single-family homes, likely driven by factors such as the region’s natural beauty, lifestyle appeal, and relative affordability compared to major urban centers.
Apartment properties are also seeing an upward trend with the median price sitting at $295,000, indicating a 2.5% year-over-year increase. This growth rate, while more modest than that of houses, points towards a balanced market that could be attractive to investors looking for consistent returns.
The local population has reached 15,200 and is on an upward trajectory with a growth rate of 2.7%. The increasing population is likely contributing to the demand for housing and may spur further development in the region.
Investment Opportunities and Potential
The steady growth in property values coupled with ongoing population increases presents a compelling case for investment in Portapique’s real estate market. For investors focused on long-term capital appreciation, single-family homes appear particularly promising given their stronger growth rate.
Apartments offer potential as well for those interested in rental income or more affordable entry points into the property market. The current trends suggest a stable environment for landlords with potential for modest capital gains over time.
Furthermore, the continuing population growth implies an enduring need for housing which may stimulate the construction sector. Investors could explore opportunities in new developments or renovations of existing properties to meet the diverse needs of incoming residents.
Future Market Outlook
Looking ahead, Portapique’s real estate market appears poised for sustained growth. The combination of natural population increase and potential attraction of new residents due to lifestyle factors suggests that demand for housing will continue to rise.
If current economic conditions hold and interest rates remain favorable, both the house and apartment markets should maintain their positive trajectories. However, it is important for investors to monitor local developments closely, including any changes in economic policies or shifts in regional employment patterns that could influence market dynamics.
In summary, Portapique offers appealing prospects for real estate investment based on current trends and demographic factors. As always with property investments, due diligence and attentiveness to broader market signals are essential to capitalize on opportunities and mitigate risks.
