Brookside, 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 in Brookside, Nova Scotia
The real estate market in Brookside, Nova Scotia, currently displays a stable level of growth. With the median house price at $500,000 and a positive trend of 3.5% year-over-year, it indicates a healthy demand for family homes. The market for apartments is also showing an upward trend with the median price standing at $300,000 and a growth rate of 2.1% year-over-year. These figures suggest that the housing market in Brookside is experiencing steady appreciation, reflective of a confident investment environment.
Brookside’s population has seen significant growth, currently tallying at 15,000 residents, with an impressive growth rate of 7.1%. This demographic expansion could be attributed to various factors including local economic development, lifestyle appeal, and possibly inbound migration seeking residential opportunities. The confluence of these elements drives demand for both purchasing and renting properties.
Investment Opportunities and Potential in Brookside
The consistent growth in property values combined with the robust population increase suggests that Brookside holds considerable potential for real estate investment. For investors looking at long-term capital gains, purchasing single-family homes could be particularly beneficial given the stronger appreciation trend in house prices compared to apartments.
The rental market should not be overlooked either; as population growth continues to outpace new construction, this could lead to a supply constraint that boosts rental yields over time. Moreover, with a younger demographic possibly fueling the population surge, demand for apartments is likely to remain solid, presenting an opportunity for those looking to invest in smaller residential units or develop multifamily properties.
Future Market Outlook for Brookside Real Estate
The future outlook for the real estate market in Brookside appears optimistic. Assuming current trends persist—moderate but steady property value increases and significant population growth—the demand for housing is likely to continue its upward trajectory. This bodes well for both homeowners seeking appreciation on their assets and investors focusing on rental income or speculative gains.
An important factor that could influence future market conditions would be local economic development initiatives that attract businesses and improve employment prospects. Such developments could further bolster population growth and by extension, enhance real estate market activity.
Careful monitoring of interest rate movements and economic policies will also be crucial as they can impact borrowing costs and investment returns. Nevertheless, based on available data, Brookside’s real estate market appears set to maintain its course of gradual growth with favorable conditions for investment well into the future.
