February MLS® home sales in Nova Scotia up modestly year over year
The number of homes sold through the MLS® System of the Nova Scotia Association of REALTORS® totaled 682 units in February 2025. This was a modest gain of 3% from February 2024.
Home sales were 11.5% below the five-year average and 3.4% below the 10-year average for the month of February.
On a year-to-date basis, home sales totaled 1,238 units over the first two months of the year. This was up by 4.2% from the same period in 2024.
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $417,700 in February 2025, a gain of 5.1% compared to February 2024.
The benchmark price for single-family homes was $411,400, up by 5.4% on a year-over-year basis in February. By comparison, the benchmark price for townhouse/row units was $532,400, a minor increase of 2.4% compared to a year earlier, while the benchmark apartment price was $463,200, a moderate gain of 4.6% from year-ago levels.
The average price of homes sold in February 2025 was $451,969, an increase of 6.5% from February 2024.
The more comprehensive year-to-date average price was $450,787, a moderate gain of 6.3% from the first two months of 2024.
The dollar value of all home sales in February 2025 was $308.2 million, increasing by 9.7% from the same month in 2024.
The number of new listings saw a gain of 7.4% from February 2024. There were 1,005 new residential listings in February 2025.
New listings were 3.3% above the five-year average and 7.6% below the 10-year average for the month of February.
Active residential listings numbered 3,231 units on the market at the end of February, up by 10.8% from the end of February 2024. Active listings haven’t been this high in the month of February in five years.
Active listings were 31.1% above the five-year average and 27.3% below the 10-year average for the month of February.
Months of inventory numbered 4.7 at the end of February 2025, up from the 4.4 months recorded at the end of February 2024 and below the long-run average of 6.9 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
| Nova Scotia Monthly Summary | ||||
|---|---|---|---|---|
| February 2025 | Residential Sales | Year-over-year % change | Residential Average Price | Year-over-year % change |
| Annapolis Valley | 104 | 31.6 | $352,495 | 9.0 |
| Cape Breton | 53 | 20.5 | $197,390 | -15.1 |
| Halifax-Dartmouth | 339 | 2.4 | $590,786 | 4.9 |
| Highland Region | 26 | 18.2 | $271,149 | -16.9 |
| Northern Nova Scotia | 93 | -14.7 | $299,195 | 16.4 |
| South Shore | 59 | 7.3 | $398,910 | 14.8 |
| Yarmouth | 8 | -63.6 | $304,375 | 46.9 |
| Nova Scotia | 682 | 3.0 | $451,969 | 6.5 |
| Nova Scotia Year-To-Date Summary | ||||
|---|---|---|---|---|
| YTD 2025 | Residential Sales | Year-over-year % change | Residential Average Price | Year-over-year % change |
| Annapolis Valley | 184 | 26.0 | $347,164 | -1.3 |
| Cape Breton | 98 | 0.0 | $236,326 | 6.6 |
| Halifax-Dartmouth | 589 | 1.6 | $596,214 | 5.2 |
| Highland Region | 58 | 20.8 | $281,121 | 5.9 |
| Northern Nova Scotia | 178 | -4.8 | $293,783 | 9.0 |
| South Shore | 113 | 17.7 | $415,023 | 28.8 |
| Yarmouth | 18 | -45.5 | $242,772 | 1.5 |
| Nova Scotia | 1,238 | 4.2 | $450,787 | 6.3 |
BOARD & ASSOCIATION INFORMATION
Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).
NSAR represents more than 1,600 brokers, salespeople and affiliate (e.g. solicitors, appraisers, banks) members throughout the province. The Association serves its members through a wide variety of educational programs, publications and special services with the vision that learning and sharing real estate knowledge will help the profession advance. Through an agreement with the Nova Scotia Real Estate Commission, NSAR provides all real estate licensing courses in the province. REALTOR® is a trademark, which identifies real estate professionals who are members of The Canadian Real Estate Association and, as such, subscribe to a high standard of professional service and a strict Code of Ethics.
For more information,
please contact:
Tanya White
(902) 468-5874 or 1 (800) 344-2001
twhite@nsar.ns.ca
Andrew Gilroy
