In August, Nova Scotia recorded 1,078 residential sales, a slight decline compared to the same month in 2024, marking a 2.1 % drop. However, this year-to-date performance remains positive, with cumulative sales up modestly year-over-year.
The benchmark home price in the province increased to $428,800, up about 3.5 % from a year ago. For single-family homes, the benchmark climbed to $422,300 (≈ +4 %), while townhouses held nearly flat and apartment benchmarks dipped modestly. Meanwhile, the average sale price reached $467,148, marking a 7.1 % increase relative to August 2024.
Active listings in Nova Scotia also rose — 4,980 properties were on the market by month end, up roughly 10.8 % compared to the previous year. New listings for the month stood at 1,554, representing a 4.4 % increase. Inventory in terms of months of supply rose to 4.6 months, signaling a modest shift toward a more balanced market.
Key Extract (Quotation):
“The modest decline in sales is offset by increased supply and rising prices, showing that demand remains solid in Nova Scotia,” commented a local real estate analyst.
Key Takeaways for Business & Real Estate in Nova Scotia
The upward movement in prices suggests continued buyer confidence in the province’s housing market.
Growing inventory offers more options for buyers, reducing pressure in overheated micro-markets.
Slight sales softness may be a signal for sellers to price more competitively or offer incentives.
The region remains attractive for interprovincial migration and investment due to affordability.
Real estate and construction businesses should monitor which sub-markets may soften or remain strong.
