Nova Scotia Association of REALTORS® reports 2024 MLS® home sales surpassed 2023 total
The number of homes sold through the MLS® System of the Nova Scotia Association of REALTORS® totaled 624 units in December 2024. This increased by 16.9% from December 2023.
Home sales were 12.2% below the five-year average and 1.1% below the 10-year average for the month of December.
On an annual basis, home sales totaled 11,093 units over the course of 2024. This was a gain of 8% from 2023.
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 $405,300 in December 2024, increasing by 4% compared to December 2023.
The benchmark price for single-family homes was $397,900, a gain of 4.3% on a year-over-year basis in December. By comparison, the benchmark price for townhouse/row units was $522,800, up by 4.9% compared to a year earlier, while the benchmark apartment price was $466,000, a minor increase of 1.3% from year-ago levels.
The average price of homes sold in December 2024 was $440,020, up by 6.9% from December 2023.
The more comprehensive annual average price was $447,805, an increase of 5.9% from all of 2023.
The dollar value of all home sales in December 2024 was $274.6 million, a sizable gain of 24.9% from the same month in 2023.
The number of new listings increased by 9.2% from December 2023. There were 544 new residential listings in December 2024.
New listings were 4.3% below the five-year average and 10% below the 10-year average for the month of December.
Active residential listings numbered 3,030 units on the market at the end of December, a gain of 7.5% from the end of December 2023. Active listings haven’t been this high in the month of December in five years.
Active listings were 21.2% above the five-year average and 33% below the 10-year average for the month of December.
Months of inventory numbered 4.9 at the end of December 2024, down from the 5.3 months recorded at the end of December 2023 and below the long-run average of 8 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 | ||||
|---|---|---|---|---|
| December 2024 | Residential Sales | Year-over-year % change | Residential Average Price | Year-over-year % change |
| Annapolis Valley | 85 | 46.6 | $403,089 | 21.4 |
| Cape Breton | 50 | 13.6 | $221,004 | -18.8 |
| Halifax-Dartmouth | 295 | 8.5 | $575,907 | 10.3 |
| Highland Region | 34 | 126.7 | $220,516 | -31.7 |
| Northern Nova Scotia | 96 | 28.0 | $283,397 | 7.5 |
| South Shore | 51 | -1.9 | $420,245 | 30.0 |
| Yarmouth | 13 | -27.8 | $248,531 | -13.6 |
| Nova Scotia | 624 | 16.9 | $440,020 | 6.9 |
| Nova Scotia Year-To-Date Summary | ||||
|---|---|---|---|---|
| YTD 2024 | Residential Sales | Year-over-year % change | Residential Average Price | Year-over-year % change |
| Annapolis Valley | 1,617 | 12.9 | $373,906 | 7.7 |
| Cape Breton | 848 | 1.3 | $261,289 | 7.3 |
| Halifax-Dartmouth | 5,329 | 8.5 | $579,606 | 4.7 |
| Highland Region | 445 | 8.3 | $275,531 | -0.2 |
| Northern Nova Scotia | 1,590 | 7.4 | $291,343 | 9.1 |
| South Shore | 1,011 | 7.1 | $392,444 | 4.7 |
| Yarmouth | 253 | -1.9 | $276,667 | 16.0 |
| Nova Scotia | 11,093 | 8.0 | $447,805 | 5.9 |
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
