NS Sales 2025 In Review
2025 Nova Scotia Real Estate Annual Report: Provincial Market Hits 10,109 Sales with Prices Rising 4.6%
Executive Summary
Nova Scotia's residential real estate market demonstrated measured resilience throughout 2025, recording 10,109 closed sales — a modest 0.6% increase over the previous year. While elevated borrowing costs and affordability pressures kept many buyers on the sidelines early in the year, the province's relative affordability compared to Ontario and British Columbia continued to attract interprovincial migration and support demand.
The provincial median sales price reached $449,900, representing a 4.6% year-over-year increase, while the average sale price climbed to $486,602. However, market dynamics shifted notably in favour of buyers: inventory rose 8.0% to 2,728 units, days on market extended to 48 (up 6.7%), and sellers received an average of 97.5% of list price — down from 98.4% in 2024. These indicators suggest a more balanced market entering 2026.
Nova Scotia sellers received an average of 97.5% of their asking price in 2025 — down from 104.7% during the 2022 peak. This 7.2 percentage point shift represents a fundamental rebalancing of negotiating power, with buyers now securing meaningful price reductions in most transactions.
Market Velocity & Inventory Dynamics
The 2025 market demonstrated a clear shift toward buyer-favourable conditions. New listings increased 6.6% to 15,088, outpacing the 0.6% growth in sales and resulting in an 8.0% expansion of active inventory to 2,728 units by year-end. This inventory accumulation gave buyers more selection and greater negotiating leverage throughout the year.
Five-Year Market Trajectory
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Closed Sales | 14,301 | 11,036 | 9,250 | 10,052 | 10,109 |
| Median Price | $326,567 | $380,000 | $400,000 | $430,000 | $449,900 |
| Average Price | $367,857 | $423,948 | $437,016 | $462,170 | $486,602 |
| Days on Market | 34 | 28 | 38 | 45 | 48 |
| List Price Received | 104.6% | 104.7% | 99.3% | 98.4% | 97.5% |
| Inventory (Year-End) | 1,122 | 1,799 | 2,291 | 2,526 | 2,728 |
Property Type Performance
Single-family homes and condominiums diverged significantly in 2025. Single-family properties saw median prices rise 4.7% to $450,000, while the condo segment experienced a 1.6% price decline to $431,000. This divergence reflects ongoing supply pressures in the single-family market contrasted with elevated condo inventory in urban cores.
Top Condo Markets by Market Share
Condominium activity remained concentrated in Halifax's urban core, with Halifax South and Halifax Central each commanding approximately 65% condo market share within their respective zones.
Sales by Price Range
The upper price segment dominated 2025 activity, with homes priced $499,000 or more accounting for 4,247 sales — an 11.2% increase and the largest volume of any price bracket. Meanwhile, entry-level properties under $229,000 contracted sharply, declining 12.7% as affordability pressures pushed buyers into higher price bands.
Days on Market by Price Range
| Price Range | Days on Market | Market Velocity |
|---|---|---|
| $349,000 to $498,999 | 40 days | Fastest |
| $499,000 or More | 48 days | Moderate |
| $229,000 to $348,999 | 51 days | Moderate |
| $228,999 or Less | 64 days | Slowest |
Regional Performance Overview
Halifax-Dartmouth continued to anchor provincial activity, though several Cape Breton and rural communities posted notable gains. Sydney River/Coxheath led the province with a 59.4% surge in closed sales, while areas like Spryfield (+23.0%) and Waverley/Fall River (+20.9%) demonstrated strong suburban demand within the Halifax region.
Halifax-Dartmouth Highlights
| Area | Sales | YoY Change | Median Price | DOM | List Price % |
|---|---|---|---|---|---|
| Timberlea, Prospect, St. Margaret's Bay | 451 | −1.5% | $629,900 | 38 | 99.5% |
| Hants County East | 372 | −13.5% | $499,450 | 46 | 98.6% |
| Bedford | 350 | −16.3% | $650,478 | 36 | 98.4% |
| Fairmount, Clayton Park, Rockingham | 323 | −2.7% | $575,000 | 32 | 98.3% |
| Sackville | 306 | −9.2% | $510,000 | 20 | 101.0% |
| Spryfield | 251 | +23.0% | $575,000 | 23 | 100.2% |
| Woodlawn, Portland Estates, Nantucket | 248 | +1.2% | $525,000 | 19 | 101.2% |
| Beaverbank, Upper Sackville | 236 | +8.8% | $670,375 | 58 | 99.5% |
Top Growth Markets Province-Wide
South Shore Performance
| County | Sales | YoY Change | Median Price | DOM |
|---|---|---|---|---|
| Lunenburg County | 649 | +4.8% | $430,000 | 56 |
| Shelburne County | 172 | +33.3% | $234,649 | 86 |
| Queens County | 135 | −2.9% | $300,000 | 71 |
Cape Breton Performance
| Area | Sales | YoY Change | Median Price | DOM |
|---|---|---|---|---|
| Sydney | 178 | −14.8% | $238,250 | 26 |
| Glace Bay | 165 | +1.9% | $195,000 | 32 |
| North Sydney | 111 | +6.7% | $216,000 | 45 |
| Sydney River / Coxheath | 102 | +59.4% | $370,000 | 25 |
| New Waterford | 69 | +15.0% | $189,000 | 41 |
Sales by Property Size
Smaller homes under 1,500 square feet dominated transaction volume at 6,573 sales, though this segment contracted 1.8% year-over-year. The most significant growth occurred in the luxury segment, with homes over 2,500 square feet surging 22.7% — signaling continued demand for larger properties despite elevated pricing.
| Size Range | 2025 Sales | YoY Change | List Price Received |
|---|---|---|---|
| 1,500 Sq. Ft. or Less | 6,573 | −1.8% | 97.7% |
| 1,501 to 2,000 Sq. Ft. | 2,091 | +2.4% | 97.6% |
| 2,001 to 2,500 Sq. Ft. | 843 | +2.6% | 97.2% |
| 2,501 Sq. Ft. or More | 595 | +22.7% | 95.6% |
Looking Ahead: 2026 Outlook
The Canadian Real Estate Association projects a modest national rebound in 2026, with home sales forecast to rise 7.7% to 509,479 units — the highest level since 2021. The national average home price is projected to increase 3.2% to $698,622. Should interest rates remain stable or ease and economic conditions hold, demand could strengthen, particularly in more affordable markets like Nova Scotia.
Nova Scotia enters 2026 positioned as one of Canada's more accessible housing markets. With inventory levels continuing to build and negotiating conditions favouring buyers, the coming year presents strategic opportunities for both move-up buyers seeking to upgrade and first-time purchasers who were previously priced out of the market.
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