The average residential sale price in the Truro and Colchester housing market has increased by 6.9 per year-over-year cent across all property types between January 1 to July 31, 2025, from $337,875 to $361,032. The number of sales increased by 4.7 per cent for the same time period from 359 to 376. The number of listings increased by 6.5 per cent (from 553 in 2024 to 589 in 2025).
Trends in the Truro and Colchester Housing Market
Average sales prices across all property types are anticipated to rise three per cent through the end of 2025, with the number of sales is predicted to also increase by five per cent. In Q4 2024, the Truro and Colchester housing market experienced a seller's market, with homes spending an average of 35 days on the market. The number of listings increased, and overall sales also saw some growth.
Demand in the region is being driven primarily by families, a trend expected to continue throughout the fall. There is not enough quality inventory that matches what buyers are looking for – properties are on the market, but they are not what buyers are interested in. In addition, some listings are priced too high, though more sellers are coming to terms with the market and adjusting their expectations.
Consumer confidence is generally low, with younger buyers increasingly turning to their parents for financial support, either through contributions to their down payment or by having parents co-sign mortgage agreements. This support is particularly common for properties that offer additional income potential, helping buyers navigate a competitive market while managing affordability concerns, especially as market activity picks up in the fall.
