Halifax Real Estate Market Statistics — Updated Monthly

How is the Halifax-Dartmouth real estate market performing right now? This dashboard tracks the key numbers every buyer, seller, and investor in HRM needs: average home prices, days on market, rental vacancy rates, new housing construction, and local employment conditions. Data is sourced directly from the Nova Scotia Association of Realtors (InfoSparks MLS), CMHC, Statistics Canada, and the Halifax Partnership, and is updated each month by Rob Lough, Broker/Owner at Century 21 Optimum Realty in Halifax-Dartmouth.

As of May 2026, the Halifax resale market has shifted into balanced territory after several years of strong sellers’ conditions. Average prices are essentially flat year-over-year, inventory is rising, and buyers have more negotiating room than at any point since 2020. The sections below tell the full story across four key indicators.

Home prices & sales

The Halifax-Dartmouth resale market has shifted toward more balanced conditions through early 2026. Average sale prices are essentially flat year-over-year at $632,434 in May 2026, while inventory has grown 23% compared to May 2025. The sales-to-new-listings ratio of 64.8% places the market in balanced territory, giving buyers more options and negotiating room than at any point in the past several years.

Avg sale price

$632K

−0.6% yr/yr

Median sale price

$584,500

−0.1% yr/yr

Units sold

522

−7.0% yr/yr

Avg days on market

+23.1% yr/yr

Active inventory

1,390

+23.1% yr/yr

Months supply

3.5

Balanced market

New listings

805

−4.7% yr/yr

Sale-to-list ratio

99.0%

Down from 100.6%

Market summary — May 2026

The Halifax-Dartmouth resale market has moved firmly into balanced territory as of May 2026. Average sale prices are essentially flat year-over-year at $632,434 — a significant shift after three years of double-digit gains — while active inventory has climbed 23% to 1,390 listings, giving buyers meaningfully more choice. With 522 units sold, days on market up to 32, and the sale-to-list ratio slipping to 99.0%, sellers can no longer count on multiple offers and quick sales; well-priced properties are still moving, but buyers have regained room to negotiate.

Average sale price — May 2025 to May 2026

Inventory vs. new listings — May 2025 to May 2026

Read the full May 2026 market update →

Rental market

Halifax rents continued to rise through 2024–2025 as demand has consistently outpaced new supply, though a modest improvement in vacancy rates signals some relief ahead. The apartment vacancy rate climbed to 2.1%—its highest level in three years—as new purpose-built rental construction began to come online. Larger units continue to see the fastest rent increases, reflecting an ongoing shortage of family-sized rental housing across HRM.

Avg monthly rent

$1,636

+6.4% yr/yr

Vacancy rate

2.1%

Up from 1.0% low

3+ bed rent change

+7.9%

Fastest-growing segment

Purpose-built (under construction)

1,240

HRM total

Market summary — 2024–2025

Halifax rents rose 6.4% in 2024 to an average of $1,636 per month, continuing a multi-year trend of above-inflation rent growth driven by persistently tight supply. The good news for renters is that the vacancy rate improved to 2.1% — still low, but up from a three-year run near 1.0% — as new purpose-built rental construction begins to deliver units. With roughly 1,240 units in the pipeline and softening resale prices potentially keeping more would-be buyers in the rental pool, the rental market is gradually rebalancing, though meaningful relief for tenants is likely still 12–18 months away.

Halifax rental market outlook →

Labour market

Halifax continues to outperform provincial and national unemployment rates, with joblessness around 5½–6% versus roughly 6½–7% for both Nova Scotia and Canada. Employment growth has cooled from 2024’s surge but remains positive, and inflation has eased back toward 2%, reducing pressure on real incomes and continuing to support housing demand.

Halifax unemployment

5.7%

vs ~6.9% Canada (Nov 2025)

Jobs added yr/yr

+2,300

+0.8% (Apr 2025)

Halifax CPI (inflation)

~2%

Trending mid-2025

NS unemployment

~6.5%

Nov 2025

Market summary — 2025

Halifax's labour market continues to outperform both provincial and national benchmarks, with unemployment around 5.7% compared to roughly 6.5–7.0% for Nova Scotia and Canada. Employment growth has cooled from 2024's surge of 15,100 jobs to a more modest +2,300 year-over-year as of April 2025, but the direction remains positive. Inflation has eased to approximately 2%, reducing pressure on household budgets and helping sustain purchasing power — a combination that continues to underpin housing demand despite higher borrowing costs.

New construction

2025 was a standout year for Halifax housing starts, up 37.7% over 2024, driving units under construction to a record 13,997 by December. The pace has pulled back sharply in early 2026 — Q1 starts are down 33.6% versus Q1 2025 — though the large pipeline already underway will continue adding supply to both the ownership and rental markets through 2026–27.

Housing starts (HRM)

+37.7%

2025 vs 2024

Dec 2025 SAAR

8,409

Seasonally adj. annual rate

Units under construction

13,997

+35.9% yr/yr (Dec 2025)

Q1 2026 starts

−33.6%

vs Q1 2025

Market summary — 2025–2026

Halifax had an exceptional year for new construction in 2025, with housing starts up 37.7% over 2024 and units under construction hitting a record 13,997 by December. That pipeline is now one of the key forces rebalancing the resale market — more supply means buyers have alternatives. The pace has pulled back sharply in Q1 2026 (down 33.6% versus Q1 2025), which is a normal correction after such an elevated year, and completions are now flowing through. For buyers, this means more new product coming to market through 2026–27; for sellers, it means additional competition from new builds in certain price ranges.

Data sources

Nova Scotia Association of Realtors (NSAR) — InfoSparks MLS data
CMHC Rental Market Report (annual)
NS Department of Finance — CMHC Housing Starts (monthly re-published series)
CMHC Housing Starts and Completions Survey (monthly)
Statistics Canada — Labour Force Survey (monthly)
Halifax Partnership — Economic Dashboard
Statistics Canada — Consumer Price Index (monthly)

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