Thorburn, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Thorburn, Nova Scotia is currently experiencing stable growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This increment is reflective of a healthy demand for single-family homes in the region. The apartment sector is also witnessing growth but at a slightly slower pace, with the median price for apartments at $300,000 and a year-over-year trend of 2.1%. These figures point towards a balanced market that is growing steadily, indicating consistent demand across both housing types.
Investment Opportunities and Potential
Investors looking to enter the Thorburn real estate market will find opportunities in both the residential housing and apartment sectors. Given the steady appreciation in property values, purchasing residential properties could be a sound investment strategy for those seeking long-term capital gains. The 3.5% growth rate in house prices suggests that investments in single-family homes are likely to benefit from continued appreciation. The apartment sector, with its 2.1% growth rate, presents a slightly more modest investment opportunity but can be attractive for those looking to invest in rental properties due to ongoing demand for more affordable living options.
Future Market Outlook
The future outlook of Thorburn’s real estate market appears promising. With a population growth of 7.1%, which is substantial for the area’s size, there is potential for increased demand for housing as the local economy expands and attracts new residents. If current trends continue, we can expect both house and apartment prices to maintain an upward trajectory, although it’s important to monitor potential market shifts such as interest rate changes or economic fluctuations that could impact buyer affordability and therefore affect market dynamics.
