New construction - March 2025
Nova Scotia New Construction Market Report
Quarter 1 Performance Trends: March vs. February
Executive Market Intelligence
- Market rebalancing: March saw 50% increase in listings with 25% growth in sales, indicating improving inventory conditions after February's tight supply
- Geographic diversification: Activity spread across 10 major communities, with Lantz (7), Beaver Bank (5), Middle Sackville (5), Fall River (5), and Lower Truro (5) showing balanced distribution
- Builder market share: Marchand Homes captured 11% of total market with 7 properties, demonstrating significant consolidation
- Price accessibility: 38% of sales occurred in $500K-$700K range, while 28% fell in $300K-$500K segment, showing stronger entry-level activity
- Premium segment resilience: Fall River commanded highest average price at $921K, while Middle Sackville led price per square foot at $419
- Size distribution balance: Market showed equilibrium across size segments with 32% in 2,000-2,500 sq ft range
Top 10 Communities by Activity
| Rank | Community | Number of Listings |
|---|---|---|
| 1 | Lantz | 7 |
| 2 | Beaver Bank | 5 |
| 3 | Middle Sackville | 5 |
| 4 | Fall River | 5 |
| 5 | Lower Truro | 5 |
| 6 | Beechville | 4 |
| 7 | Hammonds Plains | 4 |
| 8 | Pictou | 4 |
| 9 | Spryfield | 3 |
| 10 | Upper Sackville | 3 |
Price Distribution
| Price Range | Number of Sales | Percentage |
|---|---|---|
| Under $300K | 2 | 3% |
| $300K - $500K | 17 | 28% |
| $500K - $700K | 23 | 38% |
| $700K - $900K | 15 | 25% |
| $900K and Above | 3 | 5% |
| Total | 60 | 100% |
Property Size Distribution
| Size Range (sq ft) | Number of Properties | Percentage |
|---|---|---|
| Under 1,500 | 18 | 30% |
| 1,500 - 2,000 | 17 | 28% |
| 2,000 - 2,500 | 19 | 32% |
| 2,500 - 3,000 | 5 | 8% |
| 3,000 and Above | 1 | 2% |
| Total | 60 | 100% |
Top 10 Builders by Volume
| Rank | Builder Name | Number of Properties |
|---|---|---|
| 1 | Marchand Homes | 7 |
| 2 | Michael Rose - Roseview | 4 |
| 3 | Ramar Construction | 3 |
| 4 | Gerald Mitchell Contracting | 3 |
| 5 | FH Development Group | 3 |
| 6 | ATN GROUP LTD | 3 |
| 7 | Meadow Ridge Estates | 3 |
| 8 | Nova East Homes | 3 |
| 9 | Metro Premier Properties | 3 |
| 10 | Gerald Mitchell (2) | 2 |
Regional Market Performance - Top 10 Communities
| Rank | Community | Number of Sales | Avg Square Footage |
|---|---|---|---|
| 1 | Lower Truro | 5 | 1,319 |
| 2 | Beechville | 4 | 2,282 |
| 3 | Beaver Bank | 4 | 2,231 |
| 4 | Middle Sackville | 4 | 1,954 |
| 5 | Lantz | 3 | 1,678 |
| 6 | Spryfield | 3 | 2,074 |
| 7 | Fall River | 3 | 2,616 |
| 8 | Upper Sackville | 3 | 1,708 |
| 9 | Hammonds Plains | 2 | 2,691 |
| 10 | Enfield | 2 | 1,935 |
Average Selling Price by Community
| Rank | Community | Average Price |
|---|---|---|
| 1 | Fall River | $921,000 |
| 2 | Middle Sackville | $823,023 |
| 3 | Hammonds Plains | $766,432 |
| 4 | Beechville | $698,175 |
| 5 | Beaver Bank | $698,016 |
| 6 | Spryfield | $664,324 |
| 7 | Upper Sackville | $586,567 |
| 8 | Enfield | $519,450 |
| 9 | Lantz | $515,567 |
| 10 | Lower Truro | $430,440 |
Price Per SqFt by Community
| Rank | Community | Price/SqFt |
|---|---|---|
| 1 | Middle Sackville | $419 |
| 2 | Upper Sackville | $353 |
| 3 | Fall River | $328 |
| 4 | Spryfield | $328 |
| 5 | Lower Truro | $327 |
| 6 | Beaver Bank | $324 |
| 7 | Lantz | $314 |
| 8 | Beechville | $306 |
| 9 | Hammonds Plains | $300 |
| 10 | Enfield | $261 |
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