Queensland, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $475,000 |
| Monthly growth | 1.4% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $475,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| 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 Queensland, Nova Scotia, presents a stable environment with modest growth. The current median house price is $475,000, which indicates a year-over-year increase of 4.2%. This trend suggests that the housing market is experiencing steady appreciation, reflecting healthy demand and a growing local economy.
Similarly, the median apartment price stands at $320,000, with a year-over-year growth rate of 3%. The less pronounced increase in apartment prices compared to houses may be due to a higher demand for detached homes or a greater supply of apartments. Nevertheless, the growth remains positive, aligning with general market trends.
The population of Queensland has grown by 4.8% to reach 15,200 residents. Such demographic trends often correlate with increased housing demand as more people seek accommodation within the region.
2. Investment Opportunities and Potential
With an upward trend in both house and apartment prices and a growing population, Queensland offers promising investment opportunities. Investors can expect continued capital gains based on current trends. The growth rates suggest that the market is not overheated but rather progressing at a sustainable pace.
Investors looking to capitalize on rental income may find the apartment sector particularly appealing due to their lower entry price point and potential appeal among smaller households or professionals.
The population growth rate could also signal investment potential in new residential developments or in the refurbishment of existing properties to meet increasing demand.
3. Future Market Outlook
Looking ahead, Queensland’s real estate market appears poised for continued growth. The steady increase in property values coupled with significant population growth provides a strong foundation for future market expansion.
If current economic conditions persist and no major policy changes occur that significantly affect the housing market, investors can reasonably expect ongoing appreciation in property values and potential for robust rental markets.
However, as with any investment, it is important to consider local factors such as employment rates, infrastructure development projects, and interest rate changes that could influence the market dynamics in both the short and long term.
