2025 Real Estate Market Update with 2026 Outlook: Canada, Nova Scotia & Halifax
- Phil Leighton
- Jan 22
- 2 min read
Canada: 2025 Market 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.
*All data and forecasts are sourced from the Canadian Real Estate Association (CREA) and CREA-reported MLS® systems.
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%
Nova Scotia 2026 Expectations and Forecast:
Sales activity is expected to track national growth of approximately 5%
Price movement is expected to follow the national forecast range of 2% to 3%
Market conditions are expected to remain near balanced levels
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.
Comments