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Home sales down in Nova Scotia

By Kevin Northup Feb 2, 2024 | 12:35 PM

Home sales are down in Nova Scotia.

2023 saw a 17 per cent decrease overall, according to data from the Nova Scotia Association of Realtors.

President Matthew Dauphinee talks about pricing.

“When you look at the big picture, year-over-year, it’s staying close to what it was, with a slight increase in most areas,” says Dauphinee.

The average price of a home was over $423,000, up nearly three per cent from 2022.

Dauphinee says there’s an increase in volume and time on market.

“We have about three-and-a-half months of inventory, but a balanced market is closer to nine months.”

He says many homes were selling inside of a week in 2022.

The highest average price of a home in 2023 was in the HRM, at over $555,000, the lowest was Yarmouth at $239,000.