Portapique, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.3% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| 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) | 14,000 |
| Population Change | 5.1% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| 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 stands at $495,000, which marks a year-over-year increase of 3.3%. This indicates a moderate but consistent appreciation in property values within the region. Similarly, the median apartment price is $295,000, reflecting a more modest growth rate of 2% year-over-year. These trends suggest that the market is healthy and growing at a sustainable pace.
Portapique’s population has witnessed significant growth, with an increase of 5.14%, bringing the population to approximately 15,200 residents. The influx of new residents may be contributing to the increased demand for housing and the consequent rise in property values.
Investment Opportunities and Potential
The positive trends in Portapique’s real estate market indicate promising investment opportunities. The consistent growth in house and apartment prices point towards a stable investment environment for both residential properties and rental units. Given the ongoing population growth, there is potential for continued demand for housing which could benefit investors looking to enter the market.
The current market conditions also suggest that there may be opportunities for development projects aimed at meeting the increasing housing demand. Investors may find value in both long-term property appreciation and rental income streams, particularly as the local economy and population continue to expand.
Future Market Outlook
The future outlook for Portapique’s real estate market remains optimistic. The steady increase in property values alongside population growth indicates a continuing upward trajectory for the foreseeable future. However, investors and homeowners should monitor local economic indicators and development plans as these factors will play critical roles in shaping the market dynamics.
If current trends persist, Portapique’s market could see further increases in property values and rental rates. This potential makes it an attractive location for buyers seeking to capitalize on early investment opportunities before prices escalate further. Additionally, as infrastructure expands to accommodate new residents, areas surrounding Portapique may also experience similar growth patterns, potentially widening the scope for investment within the region.
In conclusion, while no market can be entirely predictable, current data suggests that Portapique represents a solid opportunity for those looking to invest in real estate over both medium and long-term horizons.
