Carleton, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.3% |
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 | $330,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Carleton, Nova Scotia currently presents a stable environment for both homeowners and investors. With a median house price of $485,000, the market has seen a modest year-over-year increase of 2.8%. This growth indicates a steady demand for housing in the area, influenced by Carleton’s desirable living conditions and economic stability.
The apartment sector also shows promising stability with a median price sitting at $295,000 and a year-over-year price trend of 1.9%. The less aggressive growth rate in the apartment market compared to houses suggests a slightly different dynamic, but still points towards an overall healthy real estate environment. Population growth in Carleton stands at 4.8%, which is significantly contributing to the continuous demand for housing.
Investment Opportunities and Potential
With Carleton’s population on the rise and housing prices steadily increasing, investment opportunities are ripe. The consistent growth in median house prices underscores the potential for capital gains in residential property investments. Furthermore, the increase in apartment prices, although more moderate than that of houses, indicates a sustainable growth trajectory that can benefit long-term investors looking for steady returns.
The town’s growing population not only suggests an ongoing need for rental properties but also points to potential infrastructure developments and enhancements in local amenities which could further increase property values over time. Investors should consider both immediate rental income possibilities as well as long-term appreciation when evaluating Carleton’s real estate market.
Future Market Outlook
The future outlook of Carleton’s real estate market remains optimistic. Considering the solid population growth rate of 4.8% alongside incremental yet steady increases in property values, it is reasonable to project that these trends will continue into the near future. The ongoing demand for housing fueled by population growth should keep the market conditions favorable for sellers and secure for buyers.
However, investors and potential homebuyers should stay informed about local economic policies, infrastructure projects, and demographic shifts that may impact the market dynamics. As with any investment, due diligence combined with timely market data will be key to making informed decisions in Carleton’s real estate landscape.
