Stats from the Nova Scotia Association of REALTORS® (NSAR)
Southdale & Manor Park Single-Family Market Report
District 12 — Central Dartmouth | 2025 Market Analysis
Executive Summary
The Southdale and Manor Park district, encompassing established neighbourhoods surrounding Penhorn Lake and major commercial corridors in central Dartmouth, recorded 87 single-family listings in the analysis period, with 76 properties successfully closing at an average sale price of $559,162. The district demonstrates a remarkably efficient market with a 92.7% success rate and exactly half of all sales closing above asking price.
Market velocity is notably strong—61.8% of properties sold within seven days, with a median days-on-market of just 6 days. Geographic variations reveal distinct pricing tiers: Manor Park (12-C) commands the highest average prices at $691,265, while Southdale (12-D) offers the district's most accessible entry point with an average of $521,343. Failed listings totaled only 6 properties across the analysis period, with one notable relisting success demonstrating that strategic price repositioning can unlock transactions.
Total Listings
87
single-family homes
Closed Sales
76
92.7% success rate
Average Sold Price
$559,162
median: $571,200
Median DOM
6
days on market
Listing Status Distribution
The market activity breakdown reveals an exceptionally healthy absorption rate, with the vast majority of listed properties successfully closing. The 6.9% failure rate (expired and cancelled combined) indicates strong market fundamentals and appropriately priced inventory across the district.
76
Sold
4
Active
2
Expired
4
Cancelled
1
Conditional
Pricing Performance Analysis
Southdale & Manor Park operates as a balanced market with a slight seller's advantage—exactly half of closed transactions exceeded list price, reflecting healthy competition among buyers. The overall list-to-sold ratio of 101.7% confirms that appropriately priced properties frequently attract multiple offers, while 86.8% of sellers achieved their original asking price or better.
Sold Over Asking
50.0%
38 sales | Avg premium: +$31,513
Sold At Asking
7.9%
6 sales | Exact list price
Sold Under Asking
42.1%
32 sales | Avg discount: −$21,716
| Metric | Value |
|---|---|
| Average List-to-Sold Ratio | 101.7% |
| Median List-to-Sold Ratio | 100.0% |
| Original-to-Sold Ratio | 101.1% |
| Properties Requiring Price Reduction | 10 (13.2%) |
| Average Price Reduction (for reduced listings) | $30,940 (4.8%) |
Key Insight
Only 13% of sold properties required any price reduction, with those reductions averaging just under $31,000. This indicates that sellers in this district are generally pricing accurately from the outset—a sharp contrast to markets where overpricing is prevalent. The 6-day median DOM confirms that well-priced inventory moves quickly.
Analysis by Sub-District
District 12 comprises four distinct sub-districts, each with unique market characteristics. Geographic location significantly influences pricing, with homes closer to Penhorn Lake and waterfront amenities commanding premiums, while properties in the Southdale corridor offer more accessible entry points into the market.
12-A: Graham's Corner & Penhorn Lake
The Graham's Corner and Penhorn Lake area represents the district's most established residential pocket, with proximity to Penhorn Lake driving buyer interest. The sub-district achieved an impressive 95.2% success rate, with one expired listing being the only failure.
Total Listings
21
24% of district
Closed Sales
20
95.2% success rate
Average Sold Price
$553,210
median: $563,250
Average DOM
23
median: 6 days
12-A Performance Summary
Average $/SqFt: $345 | Range: $197 – $565/sqft
Sold Over Asking: 40.0% (8 sales) | Sold Under Asking: 55.0% (11 sales)
Average SqFt: 1,777 | Price Range: $335,000 – $825,000
12-B: Manor Lake Area
The Manor Lake area achieved a perfect 100% success rate among completed transactions, with all 15 sold properties finding buyers. This sub-district commands the second-highest average price while demonstrating exceptional market velocity with a median DOM of just 6 days.
Total Listings
17
20% of district
Closed Sales
15
100% success rate
Average Sold Price
$602,500
median: $590,000
Average DOM
7
median: 6 days
12-B Performance Summary
Average $/SqFt: $395 (highest in district) | Range: $267 – $542/sqft
Sold Over Asking: 60.0% (9 sales) | Sold Under Asking: 40.0% (6 sales)
Average SqFt: 1,592 | Price Range: $400,000 – $795,000
12-C: Manor Park
Manor Park represents the district's premium segment, with the highest average prices and largest average home sizes. The sub-district offers substantial properties—averaging 2,713 square feet—at relatively efficient per-square-foot pricing, appealing to buyers seeking space and value.
Total Listings
7
8% of district
Closed Sales
6
85.7% success rate
Average Sold Price
$691,265
median: $695,000
Average DOM
14
median: 8 days
12-C Performance Summary
Average $/SqFt: $259 (lowest in district—best value per sqft) | Range: $207 – $336/sqft
Sold Over Asking: 33.3% (2 sales) | Sold Under Asking: 66.7% (4 sales)
Average SqFt: 2,713 (largest in district) | Price Range: $540,000 – $805,000
12-D: Southdale
Southdale represents the district's largest and most active sub-district, accounting for nearly half of all listings. It offers the most accessible price points in the district and demonstrates strong buyer competition, with 54.3% of properties selling over asking. This sub-district also absorbed the highest concentration of failed listings, suggesting some pricing sensitivity in certain segments.
Total Listings
42
48% of district
Closed Sales
35
89.7% success rate
Average Sold Price
$521,343
median: $530,500
Average DOM
11
median: 6 days
12-D Performance Summary
Average $/SqFt: $345 | Range: $187 – $513/sqft
Sold Over Asking: 54.3% (19 sales) | Sold Under Asking: 31.4% (11 sales)
Average SqFt: 1,566 | Price Range: $270,000 – $735,000
Sub-District Price Comparison
Manor Park (12-C) commands a 33% premium over Southdale (12-D) at $691,265 vs $521,343 average, primarily driven by larger lot sizes and proximity to established amenities. However, Manor Park offers the best per-square-foot value at just $259/sqft, making it attractive for buyers prioritizing space.
Price Segment Analysis
Demand concentrates heavily in the $500K–$600K range, which captured one-third of all closed sales. Entry-level properties under $400K move quickly with strong competition, while the $800K+ luxury segment represents a small but active market tier with remarkably fast transaction times.
| Price Segment | Sales | Market Share | Avg Price | Avg DOM |
|---|---|---|---|---|
| Under $400,000 | 10 | 13.2% | $350,933 | 12 days |
| $400,000 – $500,000 | 15 | 19.7% | $456,140 | 12 days |
| $500,000 – $600,000 | 25 | 32.9% | $561,674 | 12 days |
| $600,000 – $700,000 | 15 | 19.7% | $655,333 | 20 days |
| $700,000 – $800,000 | 9 | 11.8% | $738,111 | 15 days |
| $800,000+ | 2 | 2.6% | $815,000 | 3 days |
Market Velocity & Value Metrics
Market velocity in District 12 is exceptional—nearly 62% of all sales occurred within seven days of listing. The stark difference between average DOM (14 days) and median DOM (6 days) indicates a bifurcated market where most properties sell quickly while a small subset of overpriced or challenging listings extend market exposure significantly.
Average Days on Market
14
Range: 0 – 114 days
Median Days on Market
6
Well-priced homes sell fast
Average Price per SqFt
$348
Range: $187 – $565/sqft
Average Finished SqFt
1,717
Range: 620 – 3,885 sqft
Days on Market Distribution
| DOM Range | Sales | Percentage |
|---|---|---|
| 0–7 days | 47 | 61.8% |
| 8–14 days | 14 | 18.4% |
| 15–30 days | 3 | 3.9% |
| 31–60 days | 9 | 11.8% |
| 60+ days | 3 | 3.9% |
Highest Sale
The district's top transaction demonstrates both the premium potential and market efficiency in the Wheatstone Heights area—this substantial property attracted a buyer within a single day and closed $50,000 above asking price.
1
Wheatstone Heights
3,656 sqft | 1 DOM | $225.66/sqft | Sub-District 12-A
$825,000
| Metric | Value |
|---|---|
| Selling Price | $825,000 |
| List Price | $774,900 |
| Premium Over Asking | +$50,100 (6.5%) |
| Days on Market | 1 day |
| Finished Square Feet | 3,656 sqft |
Top 5 Sales
1
Wheatstone Heights (12-A)
3,656 sqft | 1 DOM
$825,000
2
Wheatstone Heights (12-C)
2,935 sqft | 5 DOM
$805,000
3
James Street (12-B)
1,846 sqft | 4 DOM
$795,000
4
Joffre Street (12-B)
2,325 sqft | 11 DOM
$790,000
5
Mountain Ash Court (12-C)
3,331 sqft | 7 DOM
$740,000
Street-Level Performance
Several streets recorded multiple transactions, providing meaningful pricing benchmarks for these sought-after corridors. Pleasant Street leads in transaction volume with seven sales spanning a wide price range.
1
Pleasant Street
7 sales | Range: $400,000 – $735,000
$583,986 avg
2
Wheatstone Heights
3 sales | Range: $672,590 – $825,000
$767,530 avg
3
Mountain Ash Court
2 sales | Range: $715,000 – $740,000
$727,500 avg
4
James Street
2 sales | Range: $580,000 – $795,000
$687,500 avg
5
Canterbury Street
3 sales | Range: $670,000 – $696,000
$683,933 avg
6
Newcastle Street
3 sales | Range: $582,500 – $717,000
$646,500 avg
7
Joffre Street
3 sales | Range: $460,000 – $790,000
$613,333 avg
8
Portland Street
4 sales | Range: $440,000 – $726,000
$598,240 avg
Expired Listings Analysis
Only two properties expired without selling during the analysis period—a remarkably low failure rate that speaks to the district's overall pricing discipline. Both expired listings reveal specific market resistance patterns worth noting.
Thompson Street (12-A)
Original: $569,900 → Final: $579,900 (price increased by $10,000) | 22 DOM | 1,393 sqft
This property's unusual price increase during the listing period suggests a strategic error—raising prices in a competitive market rarely attracts buyers and often signals seller inflexibility.
Stephen Street (12-D)
Original: $874,900 → Final: $799,900 (8.6% reduction) | 48 DOM | 2,769 sqft
At $874,900, this property was priced at the top of the district's range. Even after a $75,000 reduction, the $799,900 price point exceeded typical market tolerance for the Southdale sub-district, where the average sale was $521,343.
What Expired Listings Reveal
The expired listings share a common thread: pricing that exceeded sub-district norms. The Stephen Street property, priced nearly 50% above the Southdale average even after reduction, demonstrates that even significant price cuts may be insufficient when original pricing substantially exceeds market tolerance. In contrast, the Thompson Street price increase mid-listing represents a strategic misstep that ultimately cost the seller a sale.
Cancelled Listings Analysis
Four listings were cancelled by sellers, representing strategic withdrawals to reassess pricing or timing. One property demonstrates the full lifecycle from cancellation through successful relisting—providing valuable insight into market clearing prices.
Portland Street (12-C)
Original: $349,000 | 4 DOM | 1,640 sqft
Cancelled very early—only 4 days on market—suggesting seller change of circumstance rather than market rejection.
Brock Street (12-D)
Original: $429,900 | 21 DOM | 816 sqft
Smaller home at a moderate price point—the 816 sqft size may have limited buyer pool interest.
Rodney Road (12-D)
Original: $550,000 → Final: $490,000 (10.9% reduction) | 123 DOM | 1,743 sqft
Extended market exposure of 123 days and a $60,000 price reduction signal significant seller-buyer expectation gap. No subsequent relisting in the data suggests the property may have been withdrawn from market entirely.
Portland Street (12-D)
Original: $744,900 | 43 DOM | 1,974 sqft
Relisted & Now Under Contract: Property relisted at $699,900, reduced to $674,500, and is now CONDITIONAL with firm date January 13, 2026 (cumulative 9.5% below original)
Relisting Success Story
The Portland Street property demonstrates that strategic repositioning works. Originally listed at $744,900 and cancelled after 43 days, it relisted at $699,900 (6% lower), reduced further to $674,500, and secured a conditional offer after a combined 136 days of market exposure. The 9.5% cumulative reduction from original pricing appears to have found market tolerance.
Current Active Inventory
Four properties remain available, with two already carrying price reductions. Extended days on market for the upper-tier listings suggest pricing may need further adjustment to attract buyers.
| Street | Sub-District | Current Price | Reduction | DOM | SqFt |
|---|---|---|---|---|---|
| Harbour Drive | 12-D | $459,900 | −$20,000 (4.2%) | 44 | 1,560 |
| Renfrew Street | 12-D | $485,000 | −$34,000 (6.6%) | 55 | 860 |
| Benview Drive | 12-B | $829,000 | — | 40 | 2,524 |
| Sinclair Street | 12-B | $1,170,000 | — | 74 | 3,020 |
The Sinclair Street property at $1,170,000 represents the only million-dollar listing in the district. At 74 DOM without a price reduction, it faces the dual challenges of limited buyer pool at this price point and growing stale-listing perception. The property may require strategic repositioning to find its market.
Conditional Sale
One property is currently pending under conditional contract—notably, this is the Portland Street property that was previously cancelled and relisted:
| Street | Sub-District | List Price | Firm Date | Total DOM |
|---|---|---|---|---|
| Portland Street | 12-D | $674,500 | January 13, 2026 | 136* |
*Combined DOM across both listing periods (43 + 93 days)
Strategic Takeaways
For Sellers
District 12 rewards accurate pricing with exceptional market velocity—61.8% of properties sold within seven days. The 92.7% success rate demonstrates that sellers who price appropriately almost always find buyers. Half of all sellers achieved premiums above asking, with an average over-ask bonus of $31,513. However, the contrast with failed listings is stark: properties priced significantly above sub-district norms face extended exposure and ultimately require substantial corrections.
The $500K–$600K segment represents the market's sweet spot, capturing one-third of all sales. Sellers in Manor Park (12-C) can command the highest absolute prices, while those in Manor Lake (12-B) see the strongest buyer competition with 60% of properties selling over asking.
For Buyers
Opportunities exist across all price segments, but speed matters. With 62% of properties selling within a week, well-priced listings attract immediate attention. Buyers seeking value should consider Manor Park (12-C), where larger homes trade at the district's lowest per-square-foot pricing ($259/sqft vs $395/sqft in Manor Lake).
Active inventory at the upper end—particularly the $829,000 and $1,170,000 listings that have accumulated 40+ days on market—may present negotiation opportunities. The Portland Street relisting success demonstrates that sellers eventually adjust to market realities, creating potential for patient buyers.
Market Summary
Southdale & Manor Park's single-family market operates with remarkable efficiency: a 92.7% success rate, 6-day median DOM, and 50% over-asking performance signal a well-functioning market where appropriately priced inventory moves quickly. The sub-district variations—from Manor Park's premium pricing to Southdale's accessible entry points—offer options across the buyer spectrum. Failed listings remain rare and concentrated among properties priced substantially above market tolerance, confirming that pricing precision remains the single most important factor in successful transactions.
