As we say goodbye to another classic Canadian February, it’s time to dive into the latest numbers and trends shaping the Halifax real estate market. While the weather may have been unpredictable, the market continued to show strong momentum as we moved through the heart of the winter season. Here's what you need to know about listings, sales, prices, and interest rates this past month.
Inventory Inches Up
Buyers hoping for more options this year got a small win. Active listings in February 2025 were up by 67 homes compared to the same time last year. That’s an 8% increase, with 828 homes on the market versus 761 in February 2024. While not a huge jump, it’s a step in the right direction for buyers watching for new inventory.
Sales Stay Steady
In a rare twist, the number of homes sold in February was identical to last year. Both 2024 and 2025 saw exactly 315 homes change hands. Year-to-date sales also saw a modest increase of 2.5%, with 557 homes sold so far in 2025 compared to 543 by this time last year.
Days on Market Hold Firm
Homes are continuing to sell at a healthy pace. The average number of days on market dropped slightly from 39 days in February 2024 to 38 days in February 2025. This consistent turnover suggests continued demand and strong buyer engagement, even in the winter months.
Average Price Climbs Past $600,000
Here’s the stat that’s catching everyone’s attention: the average sale price in February 2025 rose to $609,049. That’s up from $574,754 in February 2024, marking an increase of over $34,000 year-over-year. While this figure reflects the mix of price points and not just market inflation, it’s a clear signal that prices remain strong.
Where Are Homes Selling?
The $500,000 to $600,000 range took the top spot this February, dominating sales activity across the region. In contrast, back in 2023, the hottest price points were in the $400,000 to $500,000 and $300,000 to $400,000 ranges. The shift shows how prices have moved over the last two years—and the kind of adjustments buyers are having to make.
For those feeling priced out of their preferred areas, we’re encouraging flexibility. Whether that means exploring nearby communities or considering semi-detached homes instead of detached, there are still great options out there.
Interest Rate News: A Glimmer of Relief
One of the biggest updates this month? Interest rates. We saw a 25-basis-point drop recently—finally some positive news for buyers and mortgage holders.
Insured mortgage rates are now sitting between 3.99% and 4.2%
Uninsured (conventional) rates are hovering between 4.2% and 4.5%
Variable rates have dropped to around 4.5% — a big change from the 7%+ highs we saw in 2023
With lower borrowing costs and more listings trickling onto the market, now might be the perfect time to start your search or prep your home for sale.
Let’s Chat About Your 2025 Plans
Whether you’re just starting to explore your options or you’re ready to make a move, our team is here to help you navigate every step of the process. Want a personalized update for your neighborhood or property type? Reach out for a no-obligation consultation—or grab a copy of our Home Buyer or Seller Guide to get started today!
We’ll be back next month with another full breakdown. Until then, stay warm and stay informed!
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