Timberlea, 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 Timberlea, Nova Scotia, is currently experiencing a period of steady growth. The median house price in the area stands at $500,000, marking a 3.5% year-over-year increase. This indicates a healthy demand for housing in the region, reflective of broader national trends where suburban and semi-rural areas are gaining popularity among homebuyers seeking more space and natural surroundings.
Apartments in Timberlea have also seen an upward trend with the median price at $300,000, which represents a 2.1% year-over-year hike in prices. This growth suggests a balanced market that is expanding steadily rather than overheating.
The population of Timberlea is approximately 15,000 residents, and it has witnessed significant growth at a rate of 7.1%. This demographic trend bodes well for continued demand in the real estate sector as new residents seek accommodation, whether for purchase or rent.
Investment Opportunities and Potential
Given the ongoing positive trends in both house and apartment prices, Timberlea presents appealing investment opportunities. The sustained population growth coupled with moderate yet consistent appreciation in property values suggests that investments made now could yield reasonable returns in the medium to long term.
Investors might consider single-family homes due to their higher appreciation rate compared to apartments. However, apartments should not be overlooked given the lower entry price point and potential for rental income, which could be particularly appealing to small-scale or first-time investors.
The current market conditions also suggest that there may be opportunities for development projects aimed at meeting the growing housing demand stimulated by the population increase.
Future Market Outlook
The future market outlook for Timberlea remains optimistic. The existing trajectory of population and property value growth indicates that the market is likely to maintain its upward momentum. Assuming that local economic conditions remain favourable and no major policy changes disrupt the market dynamics, both residential properties and apartments are expected to continue appreciating at a stable rate.
This positive outlook is further supported by broader national economic forecasts and regional development plans. Investors and homebuyers can take some assurance from these indicators when considering long-term commitments to the Timberlea real estate market.
In conclusion, Timberlea’s real estate market is characterized by steady growth and offers solid opportunities for investment. Stakeholders should monitor local developments closely while considering factors such as interest rates, employment rates, and any changes in municipal zoning or development regulations which could impact future prospects.
