Nova Scotia MLS® home sales soften in January but remain up from the start of 2024
The number of homes sold through the MLS® System of the Nova Scotia Association of REALTORS® totaled 558 units in January 2025. This was an increase of 6.1% from January 2024.
Home sales were 9.9% below the five-year average and 5.5% below the 10-year average for the month of January.
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 $415,400 in January 2025, an increase of 6.2% compared to January 2024.
The benchmark price for single-family homes was $410,000, a moderate gain of 6.8% on a year-over-year basis in January. By comparison, the benchmark price for townhouse/row units was $512,100, increasing by 1.3% compared to a year earlier, while the benchmark apartment price was $454,900, a modest gain of 1.2% from year-ago levels.
The average price of homes sold in January 2025 was $449,312, increasing by 6.1% from January 2024.
The dollar value of all home sales in January 2025 was $250.7 million, up by 12.5% from the same month in 2024.
The number of new listings rose 13.2% from January 2024. There were 1,109 new residential listings in January 2025. This was the largest number of new listings added in the month of January in more than five years.
New listings were 22.2% above the five-year average and 5.7% above the 10-year average for the month of January.
Active residential listings numbered 3,164 units on the market at the end of January, a moderate gain of 9.9% from the end of January 2024. Active listings haven’t been this high in the month of January in five years.
Active listings were 28.6% above the five-year average and 27.7% below the 10-year average for the month of January.
Months of inventory numbered 5.7 at the end of January 2025, up from the 5.5 months recorded at the end of January 2024 and below the long-run average of 7.9 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.
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
