Nova Scotia’s housing market slowed slightly in May, with both home sales and new listings declining compared with the same month last year, according to the Nova Scotia Association of Realtors. The association says 1,093 homes were sold across the province in May, a decrease of five per cent from May 2025. New residential listings also fell 5.5 per cent year-over-year, with 2,021 properties added to the market. Despite the decline in sales activity, home prices continued to rise. The average price of a home sold in Nova Scotia reached $498,955 in May, up one per cent from a year earlier. Sandi Carroll, president of the Nova Scotia Association of Realtors, described the market as relatively healthy and balanced despite the slower pace. “This year’s spring market certainly is down a little bit from last year,” Carroll said. “Over the last few years after COVID, it’s kind of stabilized.” Carroll said economic uncertainty has caused some buyers and sellers to delay decisions, but noted the market remains stable as the spring season progresses. Regional trends varied across the province. The Halifax-Dartmouth region recorded a modest 0.5 per cent increase in average home prices, while the Highland region saw a 13 per cent increase and the South Shore region posted an 8.5 per cent gain. Cape Breton and Yarmouth were the only regions to report declines, with average prices down 11.5 per cent and 10 per cent respectively. Yarmouth realtor Robert Nelson said activity was slower than expected this spring, but he remains optimistic about the months ahead. “The market was a little softer this spring than we were anticipating, but as time goes on, we’re very optimistic for a strong summer market on its way,” Nelson said. Nelson said economic concerns and uncertainty surrounding Canada-U.S. relations have contributed to hesitation among some buyers and sellers. However, both Nelson and Carroll say the current market offers buyers more time to make decisions than during the highly competitive pandemic years. Carroll said many buyers are taking advantage of the slower pace to carefully evaluate their options before making a purchase. Industry experts say summer is typically one of the busiest periods for real estate closings, and market conditions could shift as more buyers enter the market in the coming months. For more Nova Scotia news, visit our dedicated provincial page
