Canning, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $335,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Canning, Nova Scotia is currently experiencing a period of moderate growth. With a median house price of $485,000 that has risen by 3.2% year-over-year, the market is signaling healthy demand for residential properties. Similarly, the median apartment price has increased to $295,000, marking a 2.5% year-over-year growth.
The population of Canning stands at approximately 15,000 residents and has been growing at a robust rate of 3.4%. This demographic expansion supports the underlying demand for housing and contributes to the steady market appreciation observed in recent statistics.
Investment Opportunities and Potential
Canning’s real estate market presents attractive investment opportunities particularly in light of its consistent price appreciation and population growth. Investors may find potential in both the single-family home sector and the apartment market, with both segments showing resilience and upward trends.
The current median prices suggest that there is room for entry-level investments, especially in the apartment sector, which could appeal to investors looking for more affordable options with a lower barrier to entry. The steady rise in property values indicates a stable investment environment with potential for ongoing capital gains.
Future Market Outlook
The future market outlook for Canning remains positive, underpinned by the area’s steady population growth and general economic stability. If current trends persist, it is reasonable to expect continued moderate appreciation in property values across both houses and apartments.
The ongoing development efforts and community infrastructure improvements are likely to bolster the attractiveness of Canning as a residential destination, potentially leading to sustained or even increased rates of population growth and demand for housing.
However, prospective investors and homeowners should also remain cognizant of broader economic factors such as interest rates, employment levels, and regional economic policies that could influence the market dynamics in Canning moving forward.
