2025 Real Estate Market Update with 2026 Outlook: Canada, Nova Scotia & Halifax

Halifax Real Estate Market: 2025 Overview

The Canadian housing market in 2025 reflected a period of stabilization following several years of volatility. Higher borrowing costs, affordability challenges, and broader economic and political uncertainty influenced buyer and seller activity throughout the year. Ongoing discussions around tariffs and construction costs also contributed to more cautious decision-making across many markets.

Canadian Real Estate Association (CREA)

Canada Real Estate 2025 Key Metrics

• Total residential MLS® sales: 470,314

• National average home price: $657,145

• MLS® Home Price Index (HPI) benchmark: $710,300

• Active residential listings at year end: 133,495

• Months of inventory at year end: 4.5 months

  
  

Nova Scotia: 2025 Market Overview

Nova Scotia’s housing market remained comparatively steady in 2025. Population growth and limited resale supply continued to support pricing, even as higher interest rates moderated overall transaction volume.

Nova Scotia 2025 Key Metrics

• Total residential MLS® sales: 10,109

• Average sale price: $469,940

• MLS® HPI composite benchmark price: $426,400

• Average days on market: 47

• Sales-to-new-listings ratio: 57.6%

  
  

Halifax–Dartmouth Area: 2025 Market Snapshot

The Halifax–Dartmouth area continued to represent the largest share of real estate activity within Nova Scotia in 2025.

Halifax–Dartmouth 2025 Key Metrics

• Average residential sale price: $594,365

• MLS® HPI benchmark price: $553,100

• Median home price: $550,000

• Months of supply: 3.8 months

• Average days on market: 43

  
  

Canada: CREA Forecast for 2026

According to CREA’s Quarterly Housing Market Forecast, national activity is expected to improve through 2026.

Canada 2026 Forecast

• Projected residential sales: 494,512

• Forecast change in sales: +5.1%

• Forecast national average home price: $698,881

• Forecast price change: +2.8%

  
  

CREA Housing Market Stats

Nova Scotia: Outlook Heading Into 2026

Nova Scotia’s outlook remains strong compared to other provinces, with prices still below the national average. With more inventory and some pent-up demand in store for 2026, we should see another year of stable to moderate growth.

Understanding the Market Dynamics

As we look ahead, it's crucial to understand the factors influencing the market. Interest rates, economic conditions, and local demographics play significant roles. For homebuyers and sellers, staying informed is key.

Tips for Homebuyers in 2026

If you're considering buying a home in Halifax, here are some tips:

1. Research the Market: Understand current trends and pricing.

2. Get Pre-Approved: This gives you a clear budget and strengthens your position.

3. Work with a Local Expert: Having someone who knows the area can make a big difference.

4. Be Ready to Act: Good properties can move quickly, so be prepared.

   
   

Selling Your Home? Here’s What to Know

For those thinking of selling, consider these points:

• Timing is Everything: Spring often sees more buyers, but market conditions can vary.

• Enhance Curb Appeal: First impressions matter. Small improvements can lead to higher offers.

• Price it Right: Overpricing can deter buyers. Work with your agent to find the sweet spot.