Pictou, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
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 | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $335,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,100 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,503.0 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Pictou, Nova Scotia is currently experiencing a moderate growth pattern. With a median house price of $495,000 and an upward year-over-year trend of 3.2%, the market demonstrates a stable increase in property values. Similarly, the median apartment price stands at $295,000, which has seen a slightly lower year-over-year increase of 2.5%. This steady growth is reflective of Pictou’s appeal as a residential community and its ability to attract buyers seeking value in their investments.
The population of Pictou has been growing at a rate of 2% which may contribute to the sustained demand for housing in the area. This demographic expansion suggests that there is a consistent influx of residents who could be potential homebuyers or renters, underpinning the real estate market’s stability.
Investment Opportunities and Potential
For investors looking into Pictou’s real estate market, the current trends indicate promising potential for both short-term gains through property flipping and long-term investment through rental properties. The incremental rise in property values provides an environment conducive to investment with expectations for continued appreciation.
Given the more modest price point of apartments compared to single-family homes, coupled with their 2.5% annual appreciation rate, apartments represent an accessible entry point for investors seeking rental income or an affordable option for first-time homebuyers. With strategic investments focused on areas with high rental demand or potential for development, investors can leverage the region’s growth to optimize returns.
Future Market Outlook
The future outlook for Pictou’s real estate market remains positive due to several factors that are likely to support ongoing growth. The steady population increase suggests that there will continue to be a healthy demand for housing. Additionally, if current economic conditions persist and interest rates remain favorable for borrowers, the market could see sustained buyer activity which would further drive property values upwards.
However, investors and homebuyers should remain vigilant about macroeconomic shifts and local developments that may affect the market dynamics. Keeping abreast of regional economic policies, infrastructure projects, and employment trends will be crucial in making informed decisions regarding real estate transactions in Pictou.
In conclusion, while there are always uncertainties in predicting future market behavior, current indicators point towards a cautiously optimistic scenario for Pictou’s real estate market over the coming years.
