Your mid-year Halifax market update

It’s time for your mid-year Halifax market update! As we approach the halfway point of 2025, it’s a good time to see how the housing market is progressing, and where it may be headed. Whether you are a potential home buyer or a current home owner, it’s important to understand the current trends and conditions. Here’s what’s going on in the Halifax and Nova Scotia real estate markets! 

Halifax housing prices

How much does a home cost in Halifax right now? The average property price is sitting at around $600,000, according to the CREA. This is a 4.5 per cent increase year over year as the Halifax market continues to grow and expand. Prices have gone up across Nova Scotia as a whole, with the provincial average being close to $500,000. This represents about a five per cent year over year increase across the province. 

It’s clear that homes in Halifax are more expensive than throughout the rest of the province. This has long been the case, as Halifax is often considered the most desirable area of the province to settle. However, it’s safe to say that Halifax is not the only area affected by rising home prices, as most areas across Nova Scotia are seeing similar gains. Compared to other parts of Canada, though, Nova Scotia is still quite affordable. For example, the average home prices in Toronto and Vancouver are around $1.1 million and $1.2 million respectively. As far as top-rated Canadian cities go, Halifax remains a more attainable and attractive destination for many people.

Supply and demand comparison

Supply and demand are often important indicators of how a housing market is performing, and Halifax is no exception. 

In May 2025, Halifax had just under 800 listings, according to the CREA. This is about a 10 per cent year over year increase. Meanwhile, 582 homes sold, which was a very slight drop from this time last year. This indicates that at this moment, supply may be higher than demand. However, sales have actually seen a huge amount of growth within 2025, with a 113 per cent rise in the number of units sold between January and May. Overall, demand for housing remains high. Although supply is also increasing, conditions still slightly favour sellers. Of course, this has cooled down a large amount since the hectic conditions we saw a couple years ago. In any case, the most recent Halifax market updates show strong potential for both buyers and sellers, with neither group holding a major advantage.

Buying a home? Here’s what to look out for

If you are considering buying a home in Halifax, there are a couple key points to take from these updates. First is the promising fact that supply is seeing moderate gains. This means there is more choice for you in terms of housing options and prices. However, it’s important to note that prices keep rising as well, which indicates that demand remains high. Entering the market as a buyer right now means competing with many other buyers. Affordability can also be a challenge for some, as the cost of homeownership keeps increasing.

The good news is that with the help of a mortgage broker, your journey in today’s housing market can be much smoother! Conditions are competitive, but absolutely manageable with the right professionals on your side. We can help you land on the best mortgage product for your needs, and set you up with the lenders who can provide you with what you’re looking for.

Selling your house? Here’s what to know

If you are considering selling your property, it’s important to understand that a seller’s market doesn’t mean your house will sell immediately. It’s still essential to do the work and find the right listing price for your home that will attract the buyers you want. Pricing is critical! List too low, and you may miss out on benefiting from your home’s true value. List too high, and you might end up sitting on the market for a long time. Be sure to work with your real estate agent to find a price that is realistic and fair!

This Halifax market update doesn’t bring a ton of surprises. Conditions are not too extreme for any group, so buying and selling are both realistic options. The key is to work with the right professionals to ensure you make the most of your market experience! If you are planning to buy, now is the time to reach out to a mortgage broker. We can help you make the most of today’s market conditions and secure the mortgage product that is right for you.

If you have any questions about your mortgage, get in touch with us at Clinton Wilkins Mortgage Team! You can call us at (902) 482-2770 or contact us here.