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Charleston, 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





Charleston, Nova Scotia Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Charleston, Nova Scotia currently presents a stable environment with consistent growth. The median house price stands at $500,000, indicating a moderate year-over-year increase of 3.5%. This gradual appreciation reflects a healthy demand for single-family homes in the region. The market for apartments is also showing positive dynamics, with the median price set at $300,000 and experiencing a slower yet steady year-over-year growth of 2.1%.

The population of Charleston has reached approximately 15,000 residents, with an impressive growth rate of 7.1%. This demographic expansion is likely a driving force behind the consistent real estate demand, leading to the observed market trends.

Investment Opportunities and Potential

In light of Charleston’s growing population and stable property value increases, investment opportunities are looking promising, especially for those interested in long-term gains. The housing sector’s resilience suggests that investing in residential properties could yield solid returns over time. Moreover, with the apartment prices rising at a more modest pace, there might be potential for investors to enter the market at a lower point, which could be particularly appealing to first-time investors or those looking to diversify their portfolio into multi-family dwellings.

Growing communities often signal the need for rental properties; thus, purchasing residential units to rent out could be another lucrative strategy. Given the tight supply and increasing demand dynamics typically push rents higher, this avenue may offer investors attractive cash flow prospects.

Future Market Outlook

The future outlook for Charleston’s real estate market remains optimistic. With its strong population growth fueling demand for housing, it is reasonable to expect that both property values and rental rates will continue to ascend. However, investors should keep an eye on economic factors such as employment rates and infrastructure developments, as these will also play critical roles in shaping the market landscape.

Cautious optimism is advised due to unpredictable variables like interest rates or broader economic shifts which can affect buyer affordability and investment attractiveness. Nonetheless, given current trends and demographic momentum, Charleston’s real estate market appears poised for continued strength in both the near and medium term.