By Sherry MacLeod, Managing Broker, Cape Breton Realty
The purchase or sale of a home is about much more than the property itself — it’s one of the strongest economic drivers in every local community. According to a recent study by the Canadian Real Estate Association (CREA) and Altus Group, each MLS® resale home transaction in Canada generates an average of $97 500 in spin-off economic activity. That includes spending on renovations, legal and appraisal fees, moving costs, appliances, furnishings, and other related services. In Atlantic Canada, the regional average is slightly lower at about $43 000 per home sale, but even that conservative figure shows just how vital our housing market is to local jobs and small businesses.
Using MLS® data for the Cape Breton and Northeastern Nova Scotia region, we can see the local story clearly:
- 2020: 1 185 homes sold
- 2021: 1 591 homes sold
- 2022: 1 479 homes sold
- 2023: 1 184 homes sold
- 2024: 1 233 homes sold
- 2025 (to date): 1 084 homes sold
At the Atlantic average of $43 000 in spin-off spending per transaction, those sales represent between $46 million and $68 million in annual economic impact across our region. If we apply CREA’s national average of $97 500 per sale, the effect could exceed $100 million in local economic activity every year.
These numbers remind us that when a home changes hands, it sets off a chain reaction that supports hundreds of local tradespeople, suppliers, and service providers — from carpenters and plumbers to surveyors, lawyers, and furniture retailers. Even a single sale can result in $30 000 or more in renovation spending by the buyer or seller, generating sustained work and revenue for months after closing.
Statistics should there is a job created for every six homes sold. That’s 180 jobs so far the year.
The real estate market is, in many ways, the heartbeat of our regional economy. Whether it’s a first-time buyer purchasing a family home, a newcomer investing in Cape Breton’s shoreline, or a long-time resident downsizing, each transaction strengthens our communities. Every “Sold” sign tells a bigger story — one of economic renewal, local employment, and confidence in the future of Cape Breton and Northeastern Nova Scotia.
Sources: MLS® sales data (Cape Breton Realty internal regional totals, 2020–2025); “The Economic Impact of Real Estate Transactions in Canada,” Canadian Real Estate Association / Altus Group (2024 update).
