As we step into the spring market, Nova Scotia's real estate scene continues to evolve, with inventory levels, pricing trends, and sales activity all showing important shifts. Here's a comprehensive breakdown of the latest data and insights, helping you stay informed whether you're buying, selling, or investing.
Good news for buyers — the number of homes for sale in Nova Scotia has increased by approximately 30% compared to last year. As of now, 2,259 active residential listings are available across the province. While this is a notable improvement, it's still about 1,300 listings fewer than pre-pandemic levels, meaning supply remains somewhat limited.
Interestingly, inventory growth has stalled in the past three months, with only small fluctuations month over month. A key reason? Overpriced homes lingering on the market, inflating inventory numbers but not necessarily offering buyers real opportunities.
Sales activity has picked up, with pending sales in February up by 11-13% year-over-year. Across Nova Scotia, pending sales rose from 580 in January to 646 in February. Here's a closer look at regional breakdowns:
Although these increases are modest, they reflect a growing confidence among buyers, especially as we move closer to the busy spring market.
Homes are selling faster than before, with the median days on market (DOM) across Nova Scotia now at 18 days. In Halifax-Dartmouth, homes are flying off the shelves in just 13 days, highlighting a competitive urban market.
Other regions are a bit slower, but still active:
These numbers indicate a tight market, especially in and around Halifax.
Inventory is more comfortable than last year, with 2.9 months of inventory across Nova Scotia and 2 months in Halifax. Other regions like the Annapolis Valley and South Shore have about 4 months of inventory, giving buyers slightly more options. On the pricing side, homes are selling close to their asking prices, with the average list-to-sale price ratio at 97.4% province-wide. Here's the breakdown:
This trend is favorable for sellers, showing that buyers are still willing to pay near asking price for desirable properties.
Pricing remains regionally diverse, influenced by location and property type. Here's a snapshot of current average sale prices:
| Region/Community | Average Sale Price |
|---|---|
| Nova Scotia (overall) | $410,000 (up 7.7% YoY) |
| Halifax | $545,000 (up 13.9% YoY) |
| Bedford | $688,000 |
| Clayton Park | $645,000 |
| Waverley | $723,250 |
| Sackville | $400,500 |
| Timberlea/Tantallon | $620,000 |
| Dartmouth | $447,500 |
| Hammonds Plains | $655,000 |
| Halifax Central (Condos) | $476,000 |
| Halifax South | $740,000 |
| Halifax North | $610,888 |
| Halifax West | $586,750 |
| Wolfville | $531,000 |
| Kentville | $360,000 |
| Berwick | $288,750 |
| Greenwood | $404,950 |
| Chester | $502,000 |
| Lunenburg | $520,250 |
| Bridgewater | $480,000 |
| Liverpool | $150,000 |
On March 6th, the Bank of Canada announced its commitment to continue quantitative tightening, maintaining a 5% interest rate until inflation shows steady decline. Although population growth has fueled stronger-than-expected economic performance, uncertainty remains about when rates might ease.
The upcoming federal budget in April will be critical — if government spending rises, inflation could follow, delaying potential rate cuts.
Say Hello
Copyright © ABBA GROUP LTD | Developed by 
Post a Comments
Your eamil address will not be published. So, don’t worry.