Halifax Market Update: Are We Still in a Housing Shortage?

Halifax Market Update: September 2025

Since 2019, Halifax’s story has been one of low supply and rising prices. However, recent numbers from NSAR, CREA, and WOWA indicate that the situation is beginning to shift. Inventory is building, demand is levelling, and while it’s not a full buyer’s market yet, the balance is changing.

Halifax Market Snapshot – September 2025

Halifax–Dartmouth: 3.2 months of inventory (+23% year-over-year)

Entire Nova Scotia MLS: 4.5 months (+7%)

CREA Provincial Average: ~5.0 months

Detached Homes: 4.9 months

Townhouses/Rows: 2.8 months

Active Listings: ~4,960 homes province-wide (+9%)

Inventory is climbing, but Halifax remains below the 5–6 months that typically defines a balanced market. That means listings are lasting a bit longer, but good properties still move fast.

So, what does that mean?

For Buyers:

More selection and fewer bidding wars. You might have time to breathe again, but strong listings still go quickly. There's still plenty of competition for homes 650k and under.

For Sellers:

Pricing strategy matters more than ever. Homes that are staged, photographed well, and priced realistically are still commanding solid results. It's wise to remember that this market is not in the same ballpark of what we saw during Covid times. Prices have remained stable for the last 2 years despite the uptick in average days on market. Patience is key :)

For Investors:

Margins are tighter, but deals exist for those who can source off-market properties or add value through renovations. Watch absorption rates closely as inventory builds and more tariffs come into effect. A great opportunity still exists to add units to your primary residence. Be sure to check out the $40,000 unforgivable loan program offered through the province. More details can be found here.

In conclusion,

The Halifax housing shortage isn’t gone, it’s just evolving. Supply is catching up, but not fast enough to tip the scales. If months of inventory climb past 5 or 6, we’ll finally be looking at a more balanced market. Until then, expect steady sales, selective competition, and a calmer pace heading into 2026.