Canada’s national median home listing price this month is $290,900, which means that Cape Breton is in the top 40% for Canada.
Want a cheaply priced house? Then at $334,950 this month, Cape Breton, Nova Scotia is definitely not for you price wise.
There are 825 neighbourhoods that have more properties on sale than Cape Breton at the moment in Nova Scotia which puts the neighbourhood bottom 40% when looking at the number of properties to choose from.
As one of Nova Scotia’s many potential real estate investment neighbourhoods, Cape Breton needs to be carefully researched before investing in – and remember to check especially the locations within an area before spending - the old estate agent’s mantra of location, location, location has never lost its importance.
Because the amount of real estate listed for sale has decreased it looks like housing market forces in neighbourhood are likely to put upwards pressure on house prices.
Across Canada the most common number of bedroom property being listed has 2 bedrooms, in Aug this neighbourhood’s most common listing the same as the national average.
When we look at the data we have, it can help with trying to establish whether or not Cape Breton is a good investment target.
Over the last three months in Cape Breton, housing stock available seems to be staying constant – this could mean that homes values might not be hugely affected by supply constraints.