Nova Scotia housing slump enters 11th month

Nova Scotia’s housing market is showing more signs of cooling, with home sales falling for again in August despite more inventory coming into the market.

Home sales decline for 11^th straight month

Figures from the Nova Scotia Association of Realtors (NSAR) show 997 homes were sold across the province in August. That works out to a drop of 7.1 per cent from the same month last year.

Sales were also 7.3 per cent below the five-year average and 15.6 per cent below the 10-year average.

So far this year, 7,022 homes have changed hands in Nova Scotia, an 8.1 per cent drop from the first eight months of 2025.

More properties are coming into the market

More than 1,571 new properties hit the market in August, the highest number for the month in five years. By the end of August, there were 5,643 homes listed for sale across Nova Scotia. That’s 13.6 per cent more than a year ago.

The province now has about 5.7 months of housing inventory, compared with 4.6 months last August.

Nova Scotia trending toward a balanced real estate market

NSAR says the market remains balanced but is moving toward a buyer’s market. More listings mean you can look at more properties and potentially spend a little more time deciding before putting in an offer.

Slower sales doesn’t mean cheaper properties

Despite slower sales, prices haven’t dropped across the board.  The benchmark price for a home in Nova Scotia was $435,000 in August, up 1.6 per cent from last year.

Single-family homes saw a 2.7 per cent increase to $433,200, while condominiums went the other way. The benchmark condo price fell 8.8 per cent to $422,100. The average sale price across the province was $467,585, virtually unchanged from August 2025.

Get a pre-approval before you look

Having a discussion with an unbiased mortgage professional around a pre-approval is an important first step. This gives you a better picture of what you can afford before you start looking and then you’re ready to move when the right home comes along.

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