Nova Scotia Real Estate: The Undervalued Market That Keeps Delivering

Date Published: April 15, 2025

Another Record Month for Nova Scotia’s Real Estate Market

Nova Scotia has once again reached a milestone, setting a new record-high median sale price of $459,000 in March 2025. A clear signal of the market’s continued strength and underlying value as noted in the graph below.

This prompted a broader question: How does Nova Scotia’s real estate market compare to the rest of Canada?

More importantly, why does it continue to outperform national expectations — especially during times of economic uncertainty?

With over 13 years of experience in real estate, I’ve seen many market cycles unfold. One moment that has always stood out to me was during the 2008 financial crisis. While many provinces saw steep declines in property values, Nova Scotia remained stable. That pattern is repeating today — and the data backs it up.

A Market That Moves With Confidence

The chart below illustrates the composite benchmark price of homes across Canada obtained from CREA. Nova Scotia is shown in red, while the national average is shown in black.

Note: Data reflects seasonally adjusted benchmark prices to account for normal seasonal patterns.

What stands out:

Nova Scotia’s red line has shown stable and consistent growth, even as other provinces like Ontario and British Columbia have experienced sharp corrections.
During the 2022–2023 downturn, while national prices declined, Nova Scotia held steady.
As of early 2025, the benchmark price in Nova Scotia is around $417,000, with the median sale price in March hitting a record $459,000 — compared to the Canadian benchmark price of approximately $712,000.

Why Nova Scotia Continues to Outperform

1. Undervalued, Yet Rich in Infrastructure

Nova Scotia offers many of the same advantages as Canada’s largest markets:

An international airport with direct connections to major hubs
A strong network of universities and hospitals
A growing tech and innovation sector
Major employers and regional offices
Cultural richness, dining, and a world class waterfront

It has the infrastructure of a much larger market, yet remains priced like a hidden gem.

2. Smaller Population Size Works in Our Favour

Nova Scotia’s smaller population means that even modest migration from out-of-province can create significant pressure on the housing market.

In larger provinces, 1,000 new buyers might not make a dent. In Nova Scotia, it can tip the scales — increasing competition, stabilizing prices, and supporting long-term appreciation.

3. Retirees considering the East Coast Market

Canada’s aging population is increasingly focused on peaceful, cost-effective places to retire. Nova Scotia is quickly becoming a top choice. Why?

Lower home prices
Slower pace of life
Proximity to nature
Access to high-quality healthcare
Tight-knit communities

For retirees selling million-dollar homes in Toronto or Vancouver, Nova Scotia offers an ideal lifestyle and the opportunity to unlock equity for retirement — something that’s becoming more and more important as financial planning shifts toward cashflow-conscious living.

4. Affordability Always Wins in Uncertain Times

Housing makes up nearly 30% of the Consumer Price Index (CPI) in Canada. In uncertain economic times, reducing housing costs is one of the most effective ways to improve overall affordability.

That’s why more and more Canadians are cashing out of expensive markets and choosing Nova Scotia — where they can cut their housing costs in half, maintain a strong quality of life, and even eliminate debt or mortgages altogether.

Resilience That’s Proven Through Every Cycle

Whether it’s the 2008 recession, the COVID-era boom, or the post-2022 correction, Nova Scotia has demonstrated one thing consistently: Stability.

We may not see the explosive highs of some markets — but we also don’t experience the same volatility. And in real estate, predictable long-term growth often beats speculative spikes.

Final Word: The Undervalued Home of the National Market

Affordable – Resilient – Growing by demand, not hype

There’s an old saying in real estate:

“Buy the worst house in the best neighbourhood — that’s where the money is.”

Now consider that logic on a national scale:

Halifax is the undervalued home in Canada’s neighbourhood.

It has the bones. It has the location. It’s surrounded by markets that have already peaked. And it’s quietly catching up.

Nova Scotia continues to stand out for its affordability, lifestyle, and long-term value.

Whether you already own property here or are thinking about investing, you should feel confident in the strength of this market — now and in the future. If you’re looking to:

Invest in Nova Scotia
Relocate or retire here
Or just want real insight into what’s happening in the market