Nova Scotia Association of REALTORS®
MLS® home sales in Nova Scotia remain soft during the month of February
Homes Sold
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 $369,600 in February 2023, a small gain of 3.1% compared to February 2022.
The benchmark price for single-family homes was $362,700, increasing by 3% on a year-over-year basis in February. By comparison, the benchmark price for townhouse/row units was $463,600, a modest gain of 3.5% compared to a year earlier, while the benchmark apartment price was $433,200, up by 5.5% from year-ago levels.
The average price of homes sold in February 2023 was $403,032, a decrease of 4.3% from February 2022.
The more comprehensive year-to-date average price was $392,124, a small reduction of 3.8% from the first two months of 2022.
The dollar value of all home sales in February 2023 was $241 million, a significant decline of 29.9% from the same month in 2022.
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 $414,100 in April 2022, an advance of 37% compared to April 2021.
The benchmark price for single-family homes was $408,500, up sharply by 37.2% on a year-over-year basis in April. By comparison, the benchmark price for townhouse/row units was $505,400, a significant increase of 40.9% compared to a year earlier, while the benchmark apartment price was $442,600, a jump of 31.9% from year-ago levels.
The average price of homes sold in April 2022 was a record $462,187, an increase of 24.5% from April 2021.
The more comprehensive year-to-date average price was $439,058, a sizable gain of 23.6% from the first four months of 2021.
The dollar value of all home sales in April 2022 was $624 million, falling by 7.3% from the same month in 2021.
New Listings
The number of new listings saw a sharp decrease of 14.7% from February 2022. There were 848 new residential listings in February 2023. This was the lowest number of new listings added in the month of February in more than 15 years.
New listings were 18.3% below the five-year average and 26.8% below the 10-year average for the month of February.
Active Listings
Active residential listings numbered 2,265 units on the market at the end of February, up considerably by 40.7% from the end of February 2022.
Active listings were 30.1% below the five-year average and 59.5% below the 10-year average for the month of February.
References:
https://creastats.crea.ca/board/nsar
