Stats from the Nova Scotia Association of REALTORS® (NSAR)
Purcell's Cove & Armdale Single-Family Market Report
District 8 — Northwest Arm & Halifax Harbour Corridor | 2025 Market Analysis
Executive Summary
District 8—spanning the scenic corridor from Armdale along the Northwest Arm to Purcell's Cove and Herring Cove—recorded 25 single-family listings in the analysis period, with 19 properties successfully closing at an average sale price of $412,737. The district demonstrates balanced market conditions with a slight edge toward buyers, as 52.6% of sales closed below asking price, though competitive bidding on well-priced properties pushed the median days-on-market to just 6 days.
Geographic variations are pronounced: Melville Cove and Flemming Heights (8-B) command the highest average prices at $442,300, while Armdale (8-A) offers the district's widest price range and deepest inventory. Notable success stories emerged from relisted properties—three cancelled listings eventually sold after strategic repositioning, demonstrating the market's responsiveness to realistic pricing adjustments.
Total Listings
25
single-family homes
Closed Sales
19
76.0% success rate
Average Sold Price
$412,737
median: $420,000
Median DOM
6
days on market
Listing Status Distribution
The market activity breakdown reveals strong absorption with over three-quarters of listed properties successfully closing. The combined 20% failure rate (expired and cancelled) signals pricing sensitivity, though notably all three cancelled listings have since transacted after strategic repositioning.
19
Sold
1
Active
2
Expired
3
Cancelled
Pricing Performance Analysis
District 8 presents a nuanced pricing landscape: while a slight majority of properties sold below asking, those that attracted multiple offers achieved significant premiums. Properties that sold over asking averaged a premium of $38,044, while those settling below list saw an average discount of $26,210. The overall list-to-sold ratio of 101.4% reflects this competitive dynamic.
Sold Over Asking
47.4%
9 sales | Avg premium: +$38,044
Sold At Asking
0.0%
0 sales | All negotiated
Sold Under Asking
52.6%
10 sales | Avg discount: −$26,210
| Metric | Value |
|---|---|
| Average List-to-Sold Ratio | 101.4% |
| Median List-to-Sold Ratio | 100.1% |
| Original-to-Sold Ratio | 99.9% |
| Average Price per Square Foot | $333/sqft |
Key Insight
Every transaction in District 8 involved negotiation—no property sold at exactly list price. Well-priced properties in desirable locations (Herring Cove waterfront, established Armdale streets) attracted competitive bidding with premiums exceeding $60,000, while overpriced listings faced extended exposure and price corrections averaging 15–20%.
Analysis by Sub-District
District 8 comprises five distinct sub-districts, each with unique characteristics and market dynamics. Inventory concentrated primarily in Armdale (8-A) and the Herring Cove corridor (8-E), while Boulderwood (8-C) recorded no single-family activity during the analysis period.
8-A: Armdale (Including Highway 3 to Prospect Road)
The district's largest sub-market with the widest price range, reflecting diverse housing stock from modest starter homes to established family properties near Williams Lake and St. Margaret's Bay Road.
Total Listings
11
44% of district
Closed Sales
8
72.7% success rate
Average Sold Price
$402,813
median: $455,250
Price Range
$226K
$240,000 – $465,600
| Street | Sold Price | DOM | $/SqFt |
|---|---|---|---|
| Herbert Road | $465,600 | 4 | $267 |
| Balcomes Drive | $459,400 | 5 | $441 |
| Maplewood Drive | $457,000 | 1 | $512 |
| Williams Lake Road | $453,500 | 7 | $360 |
| St Margarets Bay Road (744) | $450,000 | 12 | $643 |
| Osborne Street | $416,000 | 1 | $633 |
| St. Margaret's Bay Road (534) | $281,000 | 20 | $220 |
| St. Margaret's Bay Road (303) | $240,000 | 14 | $144 |
8-B: Melville Cove & Flemming Heights
Premium Northwest Arm-adjacent neighbourhoods commanding the district's highest average prices. Established homes with water proximity and mature streetscapes attract buyers seeking urban convenience with waterfront lifestyle.
Total Listings
6
24% of district
Closed Sales
5
83.3% success rate
Average Sold Price
$442,300
highest in district
Price Range
$55K
$415,000 – $470,000
| Street | Sold Price | DOM | $/SqFt |
|---|---|---|---|
| Bryden Avenue | $470,000 | 41 | $255 |
| Herring Cove Road (182) | $461,500 | 4 | $259 |
| Herring Cove Road (184) | $445,000 | 6 | $266 |
| Herring Cove Road (106) | $420,000 | 51 | $273 |
| Winchester Avenue | $415,000 | 4 | $307 |
8-C: Boulderwood
No Activity Recorded
Boulderwood recorded no single-family listings during the analysis period. This established neighbourhood of larger homes on generous lots typically sees limited turnover, with properties commanding premium prices when available.
8-D: Purcell's Cove
The scenic harbour-side community recorded minimal activity with a single transaction, reflecting the area's limited housing stock and strong owner retention in this sought-after waterfront location.
Total Listings
1
4% of district
Closed Sales
1
100% success rate
Sale Price
$325,000
Days on Market
15
Purcells Cove Road
8-E: Ferguson's Cove & Herring Cove
The coastal communities along Ketch Harbour Road and Herring Cove Road offer a mix of established homes and waterfront properties. Strong demand for well-priced listings drove several over-asking sales, while overpriced properties faced market resistance.
Total Listings
7
28% of district
Closed Sales
5
71.4% success rate
Average Sold Price
$416,600
median: $415,000
Price Range
$145K
$345,000 – $490,000
| Street | Sold Price | vs. List | DOM |
|---|---|---|---|
| Hebridean Drive | $490,000 | −$9,900 | 5 |
| Shore Road | $420,000 | −$29,000 | 38 |
| Herring Cove Road (986) | $415,000 | −$10,000 | 12 |
| Ketch Harbour Road | $413,000 | +$78,000 | 4 |
| Herring Cove Road (575) | $345,000 | +$45,100 | 2 |
Sub-District Comparison
| Sub-District | Sales | Avg Price | Success Rate |
|---|---|---|---|
| 8-B: Melville Cove/Flemming Heights | 5 | $442,300 | 83.3% |
| 8-E: Ferguson's/Herring Cove | 5 | $416,600 | 71.4% |
| 8-A: Armdale | 8 | $402,813 | 72.7% |
| 8-D: Purcell's Cove | 1 | $325,000 | 100.0% |
| 8-C: Boulderwood | 0 | — | — |
Geographic Price Premium
Melville Cove and Flemming Heights properties command a 10% premium ($39,487) over the district average, reflecting proximity to the Northwest Arm, established tree-lined streets, and convenient access to downtown Halifax.
Price Segment Analysis
Transaction volume distributes across three primary segments, with the $450K–$500K bracket capturing the largest share of closed sales. Entry-level opportunities under $350K remain limited but move quickly when available.
| Price Segment | Sales | Avg Price | Share |
|---|---|---|---|
| Under $350,000 | 4 | $297,750 | 21% |
| $350,000 – $450,000 | 7 | $420,571 | 37% |
| $450,000 – $500,000 | 8 | $463,375 | 42% |
Market Velocity & Value Metrics
Average Days on Market
13
Range: 1 – 51 days
Median Days on Market
6
Well-priced homes sell fast
Average Price per SqFt
$333
Range: $144 – $643/sqft
Price Range
$250K
$240,000 – $490,000
Highest Sale
The district's top transaction closed in the Hebridean Drive neighbourhood of Herring Cove, demonstrating continued demand for quality properties in established coastal communities.
1
Hebridean Drive, Herring Cove
1,365 sqft | 5 DOM | $359/sqft | Sub-District 8-E
$490,000
| Metric | Value |
|---|---|
| Selling Price | $490,000 |
| Original List Price | $499,900 |
| Negotiated Discount | −$9,900 (2.0%) |
| Days on Market | 5 days |
| Finished Square Feet | 1,365 sqft |
Expired Listings Analysis
Two properties expired without selling, spending an average of 100 days on market. Both listings reveal pricing thresholds that buyers rejected—even after price reductions—and underscore the importance of strategic initial pricing in District 8's competitive market.
Coronet Avenue (8-A: Armdale)
Original: $299,900 → Final: $294,900 (1.7% reduction) | 123 DOM | 897 sqft | $329/sqft asking
Smaller home on a challenging lot faced extended market exposure. The modest $5,000 reduction proved insufficient to overcome buyer resistance at this price point.
Herring Cove Road (984) (8-E: Herring Cove)
Original: $499,900 → Final: $469,900 (6.0% reduction) | 76 DOM | 1,140 sqft | $412/sqft asking
Despite a $30,000 reduction, this property exceeded market tolerance for the location. Comparable closed sales in Herring Cove averaged $416,600—suggesting an additional 10–12% correction may be required.
What Failed Listings Reveal
Both expired listings shared a common pattern: initial pricing above market equilibrium followed by insufficient adjustments. The average expired listing spent 100 days on market with reductions averaging just 3.8%—well below the correction needed to attract buyers. Properties priced correctly from the outset in District 8 typically sell within 6 days.
Cancelled Listings Analysis
Three listings were cancelled by sellers, representing strategic withdrawals to reassess pricing or timing. Remarkably, all three properties subsequently relisted and sold—providing valuable insight into the price corrections required to clear the market.
St. Margaret's Bay Road (303) (8-A: Armdale)
Cancelled at: $250,000 | 0 DOM | 1,671 sqft
Success Story: Relisted at $275,000 and SOLD for $240,000 after 14 days—demonstrating buyer demand at realistic pricing despite the 4% discount from original cancellation price.
Herring Cove Road (986) (8-E: Herring Cove)
Original: $525,000 → Cancelled at: $425,000 (19.0% reduction) | 50 DOM | 1,659 sqft
Success Story: Relisted at $425,000 and SOLD for $415,000 after 12 additional days. Total correction from original: $110,000 (21%) over 62 cumulative days.
Herring Cove Road (184) (8-B: Melville Cove)
Original: $465,000 → Cancelled at: $455,000 (2.2% reduction) | 82 DOM | 1,520 sqft
Success Story: Relisted at $424,900 and SOLD for $445,000 (+$20,100 over asking) after just 6 days. Fresh positioning and strategic pricing generated competitive interest.
Lessons from Cancelled Listings
The Herring Cove Road (184) success illustrates the power of strategic repositioning: after 82 days at $455,000, a fresh listing at $424,900 attracted competitive bidding and sold for $20,000 over asking in just 6 days. Sometimes a reset creates the urgency that price reductions cannot.
Current Active Inventory
A single property remains available in District 8, already carrying a price reduction after 42 days on market.
| Street | Current Price | Reduction | DOM | SqFt |
|---|---|---|---|---|
| St Margarets Bay Road (710) | $308,000 | −$21,000 (6.4%) | 42 | 910 |
Priced at $339/sqft, this Armdale property sits above the district average of $333/sqft. With 42 days of market exposure already absorbed, additional pricing adjustments may be required to generate buyer interest—particularly given successful closings at lower price points in the same sub-district.
Top Performing Streets
Herring Cove Road dominated transaction volume with four closed sales across multiple sub-districts, providing robust pricing benchmarks for this primary corridor.
1
Herring Cove Road
4 sales | Range: $415,000 – $461,500 | 8-B & 8-E
$435,375 avg
2
St. Margaret's Bay Road
3 sales | Range: $240,000 – $450,000 | 8-A
$323,667 avg
Strategic Takeaways
For Sellers
District 8 rewards precise, market-aligned pricing. Properties listed at or slightly below comparable values attracted competitive offers—47% of sellers achieved premiums averaging $38,000 above asking. The 6-day median DOM for successful sales contrasts sharply with 100+ days for expired listings, underscoring the cost of aspirational pricing.
Cancelled listing success stories demonstrate that strategic repositioning can succeed where incremental reductions fail. A fresh listing with correct pricing often generates the urgency and competitive interest that months of gradual reductions cannot achieve.
For Buyers
Opportunities exist across all price segments, though inventory remains limited. Entry-level buyers targeting under $350,000 will find options in Armdale along St. Margaret's Bay Road—but must act decisively on well-priced listings. The sub-$300,000 segment saw two closings, both on properties requiring some updating.
Mid-market and upper-segment buyers should focus on the Melville Cove/Flemming Heights corridor for established homes near the Northwest Arm, or Herring Cove for coastal lifestyle with better value. Properties sitting beyond 30 days present negotiation opportunities—the 106 Herring Cove Road sale closed at $420,000 after 51 DOM, a $9,900 discount from list.
Market Summary
District 8's single-family market demonstrates healthy absorption (76% success rate) with clear pricing discipline from buyers. The 6-day median DOM signals a responsive market that moves quickly on correctly-priced inventory, while extended exposure for overpriced listings confirms buyer willingness to wait for value alignment. For sellers, the message is clear: price it right from day one, or prepare for a lengthy—and potentially costly—correction process.
