Thorburn, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| 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 | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
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
Current Market Conditions and Trends in Thorburn, Nova Scotia
The real estate market in Thorburn, Nova Scotia is currently experiencing a period of steady growth. The median house price stands at $485,000, reflecting a year-over-year increase of 3.2%. This suggests that the housing market is enjoying moderate appreciation, which may indicate a healthy demand for residential properties. Similarly, the median apartment price is currently $295,000, with a slightly lower year-over-year increase of 2.5%. This trend shows that apartments are also gaining value but at a gentler pace compared to houses.
Thorburn’s population has grown by 3.3%, which is relatively robust and may contribute to the underlying demand for housing in the area. This population growth can lead to increased demand for both ownership and rental properties, potentially supporting the upward trend in property values over time.
Investment Opportunities and Potential in Thorburn
The real estate market in Thorburn presents several opportunities for investors. The consistent growth in property values for both houses and apartments suggests a stable investment environment. With houses appreciating at a rate of 3.2% year-over-year and apartments at 2.5%, investors could expect continued, albeit moderate, capital gains in the mid-to-long term.
Additionally, the population growth of 3.3% may lead to higher demand for rental properties. Investors could benefit from purchasing rental properties that can provide regular income through leasing while also appreciating in value over time. The difference in appreciation rates between houses and apartments could guide investors’ decisions based on their investment strategies and risk profiles.
Future Market Outlook for Thorburn
Looking ahead, the market trends suggest a positive outlook for Thorburn’s real estate market. The steady appreciation of property values indicates a stable and growing market that could continue to benefit sellers and investors alike. If the population continues to grow at its current rate or higher, it will likely reinforce this trend by creating additional demand for housing.
However, investors should be mindful of external economic factors such as interest rates changes, employment rates, and regional economic developments that could impact future market conditions. It’s also advisable to keep an eye on government policies regarding housing development and mortgage lending as they can significantly influence market dynamics.
In conclusion, Thorburn’s real estate market currently offers promising opportunities for investment with a cautiously optimistic future outlook based on current trends and population growth statistics.
