Nova Scotia Association of REALTORS®
The number of homes sold through the MLS® System of the Nova Scotia Association of REALTORS® totaled 1,419 units in June 2022. This was a minor decrease of 3.9% from June 2021.
Homes Sold
The number of homes sold through the MLS® System of the Nova Scotia Association of REALTORS® totaled 1,419 units in June 2022. This was a minor decrease of 3.9% from June 2021.
Home sales were 1.6% above the five-year average and 13.5% above the 10-year average for the month of June.
On a year-to-date basis, home sales totaled 6,933 units over the first six months of the year. This was a large decline of 18.1% from the same period in 2021.
Average Homes Price
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 $417,300 in June 2022, a sizable gain of 27.2% compared to June 2021.
The benchmark price for single-family homes was $410,900, increasing by 27% on a year-over-year basis in June. By comparison, the benchmark price for townhouse/row units was $490,300, a gain of 25.3% compared to a year earlier, while the benchmark apartment price was $479,800, up sharply by 31.4% from year-ago levels.
The average price of homes sold in June 2022 was $420,243, increasing by 14.8% from June 2021.
The more comprehensive year-to-date average price was $438,101, a gain of 22.3% from the first six months of 2021.
The dollar value of all home sales in June 2022 was $596.3 million, up by 10.3% from the same month in 2021. This was also a new record for the month of June.
New Listings
The number of new listings saw an increase of 4.3% from June 2021. There were 2,271 new residential listings in June 2022. This was the largest number of new listings added in the month of June in more than five years.
New listings were 11.7% above the five-year average and 3.8% above the 10-year average for the month of June.
Active Listings
Active residential listings numbered 3,289 units on the market at the end of June, a moderate gain of 4.5% from the end of June 2021.
Active listings were 36.6% below the five-year average and 59% below the 10-year average for the month of June.
Months of inventory numbered 2.3 at the end of June 2022, up from the 2.1 months recorded at the end of June 2021 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.
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