District 14 2025 In Review
Executive Summary
District 14, spanning the suburban communities east of Dartmouth from Waverley to Montague Mines, recorded 219 total listings in the analysis period with 99 properties successfully closing at an average sale price of $700,202. This district presents a markedly different dynamic than urban Halifax cores: a substantial new construction inventory has created an absorption challenge, with a 58.6% success rate overall and significant variation between sub-districts.
The data reveals two distinct market stories. Sub-District 14-A (Montebello, Port Wallace, Keystone) demonstrates strong resale performance with 44 sales averaging $610,410 and just 11.9 days on market. Sub-District 14-B (Shubie Park area), dominated by builder inventory, recorded 55 sales at a higher average of $772,036 but with 40 expired and 20 cancelled listings—a 52% failure rate for that sub-district—primarily concentrated in new construction developments along Pearlgarden Close, Gardenia Way, and Simona Drive.
Listing Status Distribution
The listing status breakdown reveals significant market absorption challenges, with 32% of all listings failing to transact (expired plus cancelled). Active inventory remains elevated at 45 properties, dominated by new construction in the $700K–$1M range. The 5 conditional sales pending offer additional near-term closings.
Pricing Performance Analysis
District 14 demonstrates balanced pricing dynamics with roughly equal proportions selling above, at, and below asking price. The 100.0% list-to-sold ratio indicates overall market equilibrium, though properties requiring price reductions during listing averaged $70,100 in cuts—suggesting initial overpricing by approximately 10% when it occurs.
| Metric | Value |
|---|---|
| Average List-to-Sold Ratio | 100.0% |
| Median List-to-Sold Ratio | 100.0% |
| Original-to-Sold Ratio | 99.5% |
| Properties Requiring Price Reduction | 11 (11.1%) |
| Average Reduction (for reduced listings) | $70,100 |
The remarkably even three-way split between over-asking, at-asking, and under-asking sales reflects a market in equilibrium—neither strongly favouring buyers nor sellers. Resale properties in established neighbourhoods typically attract competitive bids, while new construction inventory absorbs at or below asking, creating this balanced overall picture.
Analysis by Sub-District
District 14 comprises two distinct sub-districts with markedly different market profiles. Sub-District 14-A represents established residential communities with strong resale velocity, while 14-B encompasses significant new construction development that faces absorption headwinds.
14-A: Montebello, Port Wallace, Keystone
This sub-district delivered the district's strongest performance: 44 sales from just 57 total listings (77% success rate), with properties averaging under 12 days on market. Entry-level pricing and established neighbourhood appeal drive rapid absorption.
| Status | Count | % of Sub-District |
|---|---|---|
| Sold | 44 | 77.2% |
| Expired | 6 | 10.5% |
| Cancelled | 4 | 7.0% |
| Active | 3 | 5.3% |
14-B: Shubie Park Area & New Developments
Sub-District 14-B presents a starkly different picture: 162 total listings with only 55 sales (34% success rate). The sub-district is dominated by new construction developments—Pearlgarden Close, Gardenia Way, and Simona Drive—where builders have struggled to find buyers at original asking prices. The 40 expired and 20 cancelled listings represent 37% of sub-district activity.
| Status | Count | % of Sub-District |
|---|---|---|
| Sold | 55 | 34.0% |
| Active | 42 | 25.9% |
| Expired | 40 | 24.7% |
| Cancelled | 20 | 12.3% |
| Conditional | 5 | 3.1% |
14-B properties command a 26% premium ($161,626 higher) over 14-A equivalents, reflecting larger lot sizes, newer construction, and waterfront proximity. However, this premium positioning faces buyer resistance at current inventory levels.
Price Segment Analysis
Sales concentrate heavily in the $500K–$700K range, capturing nearly half of all transactions. The under-$500K segment—primarily resales in 14-A—moves quickly at 16 days average DOM, while luxury properties above $1.2M face the longest market exposure at 69 days.
| Price Segment | Sales | % Share | Avg Price | Avg DOM |
|---|---|---|---|---|
| Under $500,000 | 15 | 15.2% | $451,906 | 16 days |
| $500,000 – $700,000 | 45 | 45.5% | $622,708 | 21 days |
| $700,000 – $900,000 | 27 | 27.3% | $780,254 | 21 days |
| $900,000 – $1,200,000 | 8 | 8.1% | $980,244 | 16 days |
| $1,200,000+ | 4 | 4.0% | $1,402,688 | 69 days |
Market Velocity & Value Metrics
| Sub-District | Avg $/SqFt | Avg DOM | Success Rate |
|---|---|---|---|
| 14-A (Montebello/Port Wallace/Keystone) | $286 | 12 days | 77.2% |
| 14-B (Shubie Park Area) | $327 | 30 days | 34.0% |
Top 5 Highest Sales
The district's luxury segment shows significant price corrections from original asking, with all top sales requiring reductions of 8–17% to transact. Extended market time (averaging 67 days) reflects buyer negotiating leverage at premium price points.
Every top-5 sale required substantial price reductions to transact—averaging 12.4% below original asking. One Lakeshore Park Terrace property was first listed at $2,195,000 (cancelled), then $1,999,000, ultimately selling for $1,650,000—a 25% correction from original pricing ambitions.
Street-Level Performance
Pearlgarden Close dominated transaction volume with 19 sales, though many required extended market time due to new construction absorption challenges. Established streets like Viscaya Place and Montebello Drive delivered rapid sales cycles.
Expired Listings Analysis
A substantial 46 properties expired without selling, spending an average of 97 days on market. The majority (40 of 46) are located in Sub-District 14-B, concentrated in new construction developments where builder pricing has not aligned with buyer expectations. Many properties have been relisted multiple times without success.
New Construction Absorption Failures
The following developments show persistent challenges with multiple expired listings:
5 expired listings at $699,900 – $774,900 | 92+ DOM each
9 units expired at $769,900 – $949,900 | 87–97 DOM
3 units expired at $624,900 – $665,900 | 90–132 DOM
Resale Expired Listings
Original: $1,439,000 → Final: $1,349,000 (6.3% reduction) | 124 DOM
Original: $1,690,000 → Final: $1,495,000 (11.5% reduction) | 93 DOM
Three failed attempts: $1,295,000 (81 DOM) → $1,249,500 (88 DOM) → Now conditional at $1,099,900
The expired listings tell two distinct stories: (1) New construction in 14-B at $700K–$950K faces systematic buyer resistance, with builders repeatedly listing at unchanged prices rather than adjusting to market demand; (2) Luxury resale properties above $1M require 15–25% price corrections to find buyers. In both cases, the market is signaling clear price ceilings that sellers have been slow to accept.
Cancelled Listings Analysis
Twenty-four listings were cancelled by sellers, representing strategic withdrawals to reassess pricing or timing. Average time on market before cancellation was 76 days, indicating sellers recognized market resistance before listing expiration.
Notable Cancelled Listings with Outcomes
Original: $2,195,000 → Cancelled at $1,999,000 | 104 DOM
Original: $929,900 → Cancelled at $884,900 | 59 DOM
Original: $795,900 → Cancelled at $795,900 | 171 DOM
Original: $919,900 | Cancelled after 8 DOM, then expired twice at $919,900
Properties that successfully transacted after cancellation required an average 15–20% correction from original pricing. Some builders are relisting at increased prices despite repeated market rejection, a strategy unlikely to succeed in current conditions.
Current Active Inventory
Forty-five properties remain available, dominated by new construction inventory in 14-B. Average days on market of 102 days indicates stale listings, with only 3 properties carrying price reductions—suggesting many sellers have not yet responded to market signals.
| Price Range | Active Units | Avg DOM | Sub-District |
|---|---|---|---|
| $499,000 – $650,000 | 8 | 130 days | Mixed |
| $650,000 – $800,000 | 19 | 95 days | 14-B |
| $800,000 – $1,000,000 | 14 | 100 days | 14-B |
| $1,000,000+ | 4 | 110 days | 14-B |
The elevated DOM across all price segments reflects the new construction overhang. Buyers have substantial choice at every price point, significantly shifting negotiating power in their favour.
Conditional Sales
Five properties are currently pending under conditional contracts, representing $3,009,500 in potential closings:
| Street | List Price | DOM | Sub-District |
|---|---|---|---|
| Simona Drive | $679,900 | 39 | 14-B |
| Hazelnut Court | $699,900 | 72 | 14-B |
| Pearlgarden Close | $744,900 | 345 | 14-B |
| Pearlgarden Close | $784,900 | 108 | 14-B |
| Joaquina Court | $1,099,900 | 121 | 14-B |
The Joaquina Court conditional at $1,099,900 represents a breakthrough after three failed listing attempts starting at $1,295,000—a 15% correction to find a buyer.
Relisted Properties: Market Pricing Lessons
Thirty-one properties have been listed multiple times, revealing both the persistence required to sell and the price corrections necessary to transact. The patterns provide essential market intelligence for pricing strategy.
Success Stories
| Street | Original Ask | Sold Price | Correction | Total DOM |
|---|---|---|---|---|
| Lakeshore Park Terrace | $2,195,000 | $1,650,000 | −24.8% | 195 |
| Waverley Road | $1,439,000 | $1,147,500 | −20.3% | 186 |
Ongoing Challenges (Currently Active After Previous Failures)
| Street | Original Ask | Current Ask | Change | Total DOM |
|---|---|---|---|---|
| Waverley Road | $779,990 | $749,900 | −3.9% | 234+ |
| Stone Gate Court | $929,900 | $804,900 | −13.4% | 189+ |
| Gardenia Way | $921,900 | $921,900 | No change | 229+ |
| Gardenia Way | $919,900 | $982,500 | +6.8% | 297+ |
Strategic Takeaways
For Sellers
District 14's split personality demands different strategies by property type. Resale properties in established 14-A neighbourhoods can achieve market-rate pricing with expectations of 2–4 weeks to sell. New construction and 14-B properties face a fundamentally oversupplied market where competitive pricing from day one is essential.
The data is unambiguous on luxury pricing: every property that sold above $1M required 15–25% corrections from original asking. Sellers in this segment should price to the market from the outset or anticipate extended timeframes and significant reductions.
For new construction sellers, the 45 active listings competing for buyer attention means pricing power has shifted decisively. With identical or similar units available, buyers have no urgency. The builder strategy of maintaining pricing through multiple listing cycles has demonstrably failed—adaptation is required.
For Buyers
This is an exceptional buyer's market for new construction in District 14. With 42 active listings in 14-B alone—many sitting 100+ days—negotiating leverage is substantial. Buyers should expect to negotiate 5–10% below asking on new builds and can cite specific comparable expired listings to support their position.
Resale properties in 14-A offer better value per square foot ($286 vs $327) but face more competition. The 77% success rate and 12-day average DOM indicate desirable properties move quickly—buyers should be prepared to act decisively.
Upper-market buyers above $1M have particular advantage: the expired listing history demonstrates sellers eventually accept significant corrections. Current inventory and comparable properties provide both choices and negotiating precedents.
District 14 presents a tale of two markets: a healthy resale segment in 14-A with 77% success rates and sub-2-week sales cycles, and an oversupplied new construction market in 14-B with 34% success rates and 30+ day averages. The 70 expired and cancelled listings—predominantly new construction—signal systematic overpricing that buyers can leverage. For sellers, the path to success is clear: price to the sold comparables, not the asking prices of failed listings.
.jpg)
Royal LePage Atlantic.
We are leaders in the real estate community with a reputation for integrity, dedication and as equally important, we are known for achieving results. Our professional, motivated and trustworthy Team Members are committed to delivering quality service for both buyers and sellers. From the very start of your search to the day of your sale, whether it is a condo, townhouse, cottage, farm, or commercial property that you are looking to buy or sell, we are here to help you with real estate choices.
CONTACT US
SHARE ON SOCIAL MEDIA
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association, who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy.
MLS®, Multiple Listing Service®, REALTOR®, REALTORS®, and the associated logos are trademarks of The Canadian Real Estate Association.