Halifax, Nova Scotia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $510,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $510,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2025) | 16,000 |
| Previous Population (2020) | 15,400 |
| Population Change | 3.9% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The Halifax real estate market is currently experiencing steady growth, with the median house price standing at $510,000, marking a year-over-year increase of 4%. The apartment sector is also showing positive momentum, albeit at a slower pace, with a median price of $315,000 and an annual price trend of 1.9%. This growth can be partially attributed to the city’s population increase of 3.9%, which has expanded the customer base for housing and intensified demand.
Investment Opportunities and Potential
With its expanding population, currently at 16,000, Halifax presents numerous investment opportunities. The consistent rise in house prices indicates a healthy demand for single-family homes, suggesting potential for both long-term capital gains and rental income for investors. Apartments, while experiencing a more modest price trend, offer an entry point for those seeking to capitalize on the growing number of residents seeking urban living solutions. With its robust growth rate and stable property value increases, Halifax offers balanced opportunities for both residential and commercial real estate investors.
Future Market Outlook
The Halifax real estate market shows promising signs for continued growth in the foreseeable future. As population numbers are on the upswing and housing demand follows suit, it is reasonable to predict that property values will continue to appreciate steadily. However, prospective investors and homeowners should remain informed about local development plans, economic policies, and national trends that may influence market dynamics. Vigilance regarding these factors will be crucial for making strategic investment decisions in Halifax’s evolving real estate landscape.
