Carleton, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Carleton, Nova Scotia is exhibiting a stable growth pattern as evidenced by the incremental year-over-year increase in property values. The median house price currently stands at $500,000, representing a 3.5% increase from the previous year. This suggests a healthy demand for housing in the area coupled with a gradually appreciating market.
Similarly, the apartment sector displays positive momentum with the median apartment price at $300,000, marking a 2.1% year-over-year growth. This is indicative of a solid market for multi-family dwellings and may reflect an increased interest in more affordable, lower-maintenance living spaces.
The local population has reached 15,000 residents, showing a significant growth rate of 7.1%. This population surge is likely contributing to the rising housing demand and could be shaping current market trends towards more development and inventory expansion to meet the growing needs of residents.
Investment Opportunities and Potential
The consistent appreciation in housing prices combined with ongoing population growth presents considerable investment opportunities in Carleton’s real estate market. The steady rise in property values offers potential for capital gains for long-term investors. In particular, the single-family home segment, with its 3.5% appreciation rate, indicates room for investment growth.
In addition to purchasing properties for resale or rental income, investors may also consider engaging in new construction projects to cater to the increasing population. With continued demand expected due to the population influx, strategically located and well-designed residential developments hold significant potential for high returns on investment.
Future Market Outlook
The future of Carleton’s real estate market appears promising given its current trajectory. The sustained increase in median house and apartment prices suggests that the market will continue to grow steadily over time. Furthermore, with an impressive population growth rate of 7.1%, there is an anticipated ongoing demand for housing which should support both price stability and opportunities for new development projects.
The data points towards a balanced market with opportunities for both buyers seeking long-term value retention and sellers looking to capitalize on equity gains. Investors are advised to monitor demographic trends closely as well as any economic factors that could impact employment rates or disposable incomes, as these could influence future market conditions.
In conclusion, Carleton’s real estate market holds favorable prospects underpinned by solid fundamentals including consistent property value appreciation and robust population growth. Stakeholders should approach investments with due diligence while considering local dynamics to make informed decisions that align with their financial goals.
