Brooklyn, 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 Brooklyn, Nova Scotia, is currently experiencing steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing healthy appreciation. Similarly, apartments are becoming more valuable with a median price of $300,000 and a growth trend of 2.1% over the past year. This consistent uptick in property values reflects a robust local economy and a growing demand for housing in the area.
The population of Brooklyn has also seen significant growth, with an increase of 7.1%. This influx of new residents is contributing to the demand for housing and can be attributed to Brooklyn’s appeal as a place to live, work, and invest.
Investment Opportunities and Potential
Given the upward trends in both population and housing prices, Brooklyn presents attractive investment opportunities. The continuous rise in property values suggests that investments made now are likely to appreciate over time. For investors looking at long-term capital gains, single-family homes offer potential given their higher year-over-year price increase compared to apartments.
Apartments also represent an opportunity, especially for those interested in rental income. As the local population grows, so does the demand for rental units. With the apartment price trend showing a more modest increase than houses, investors might find this market segment more accessible while still benefiting from the overall positive trajectory of the real estate market.
Future Market Outlook
The future outlook for Brooklyn’s real estate market appears promising. The combination of a growing population and consistent property value appreciation positions Brooklyn as a market with solid potential for sustained growth. If current trends continue, both residential properties and rental units will remain in high demand, providing ample opportunities for homeownership and investment alike.
However, investors should keep an eye on economic indicators and development plans that could affect future market conditions. Factors such as interest rates, employment rates, and infrastructure projects will influence the trajectory of both property values and population growth over time.
