Halifax Average Home Prices Continue To Rise as Inventory Continues to Fall

Halifax, along with most of Nova Scotia continues to see increases in average prices in home sales through the end of February 2022. The average price for a home in HRM (Halifax Regional Municipality – which stretches from Hubbards to Ecum Secum) is now $576,986, which is an increase of 30.4% over the same time period last year. This includes detached, semi-detached and condominiums.

HRM remains the most expensive area in Nova Scotia, with Cape Breton Region coming in as the most affordable with an average price of $214,828, an increase of 36.3% over last year at the same time.

The number of new listings and active listings continues to drop throughout the province, with less than one month of inventory in the Halifax Region. The South Shore Region which includes notable towns such as Chester, Mahone Bay and Lunenburg has approximately 2.6 moths worth of inventory.

Sales numbers in units increased in areas with the most inventory including the Highland Region and Cape Breton.

Please reach out if you have specific questions about your area or are interested in knowing how much your home could sell for in today’s market. I’m always happy to provide a CMA (Comparative Market Analysis) for your property.

All data drawn from MLS reports through NSAR.