April 2023 Monthly Market Update with Brenda K

A Comprehensive Update on Real Estate in Halifax, Nova Scotia – April 2023


Welcome to our Halifax Real Estate Blog! In this post, we will provide you with an in-depth overview of the current real estate market in Halifax, Nova Scotia, focusing on the data from April 2023. Stay informed and discover valuable insights about active listings, unit sales, year-to-date sales, average days on market, average prices, appreciation, and more. Let’s dive into the details!

Active Listings:

In April 2023, Halifax had a total of 722 active listings, a significant increase compared to the 434 listings from the previous year. This indicates a growing inventory in the market, presenting more options for buyers.

Unit Sales:

During April 2023, Halifax experienced 417 unit sales, showing a decline from the 595 units sold in April 2021. The pandemic and subsequent lockdowns had a considerable impact on real estate transactions, causing a decrease in sales volume.

Year-to-Date Sales:

The year-to-date sales in Halifax for 2023 stood at 1,196, a decrease from the 1,612 sales recorded in the same period last year. Notably, 2021 saw a surge in migration from Ontario due to COVID-19 restrictions.

Average Days on Market:

The average days on market in April 2023 were 26, indicating a balanced market. It is crucial to note that homes not selling within a week or two is not uncommon. In 2021, the average days on market were 16, while in the previous year, it was only 11.

Month Supply:

Considering the existing active listings, if no new properties came on the market, Halifax would run out of inventory in less than two months in both 2022 and 2021. This showcases the high demand and low supply of homes, which has been a recurring trend.

Average Price:

The average price for homes sold in April 2023 was $603,765, slightly lower than the previous year. However, it’s essential to understand that this does not indicate a decline in your home’s value. In fact, when comparing to 2020, the average sale price has seen substantial growth.

List-to-Sell Ratio:

The list-to-sell ratio is a valuable indicator of pricing strategy and market competitiveness. In 2021, the ratio was 114, surpassing the asking price, while in 2022, it increased further to 120. Although bidding wars have been prevalent, it is not sustainable for the market’s long-term stability.


The appreciation rate in 2023 experienced a minor decline of one percent compared to the previous year. It is important to note that the significant appreciation jumps observed in recent years are not sustainable and can eventually price potential buyers out of the market.

Top Performing Areas:

Sackville-Beaver Bank emerged as the top-performing area in terms of unit sales, with 52 properties sold. Fairview recorded the lowest sales volume; however, this is influenced by the number of listings available in the area.

Average Sold Prices:

Sambro- Ketch Harbour claimed the highest average sold price at 1.1 million, surpassing Halifax South End at 930,000. There are still excellent opportunities to find affordable homes in areas like Halifax County East, Eastern Passage, and Forest Hills.

That concludes our comprehensive update on the Halifax real estate market for April 2023. Stay tuned for our next blog post, where we will discuss the latest statistics for May. If you have any questions about the real estate market in your neighborhood or need expert advice, feel free to reach out to our team. We’re here to assist you!


Stay informed and up to date with the latest trends in Halifax’s real estate market. For weekly and monthly updates on the Halifax real estate market, tune into @HalifaxRealEstate on YouTube. To learn more about what’s happening in your neighborhood or explore your options, click the calendar link below to schedule a personalized consultation. Our team is here to provide valuable insights and help guide you through the ever-evolving Halifax real estate landscape. Cheers!


Watch the full video update here — > April 2023 Market Update for Halifax-Dartmouth

Want to connect with us? Click here —> https://calendly.com/brendak1/coffee-with-brenda-k

Subscribe to our Newsletter for weekly updates! Click here —> Week in Review | Halifax Real Estate

Back to blog