South Shore Single-Family Market Analysis
January 2025
Stats from the Nova Scotia Association of REALTORS® (NSAR)
| Key Metrics | January 2024 | January 2025 | % Change |
|---|---|---|---|
| New Listings | 47 | 67 | +42.6% |
| Pending Sales | 25 | 40 | +60.0% |
| Closed Sales | 24 | 34 | +41.7% |
| Days on Market Until Sale | 69 | 77 | +11.6% |
| Median Sales Price | $364,500 | $425,500 | +16.7% |
| Average Sales Price | $364,167 | $555,806 | +52.6% |
| Percent of List Price Received | 95.8% | 95.7% | -0.1% |
| Inventory of Homes for Sale | 156 | 191 | +22.4% |
| Months Supply of Inventory | 3.6 | 3.8 | +5.6% |
Market Overview
The South Shore single-family market opened 2025 with strong year-over-year growth across transaction volumes, though underlying dynamics reveal a market in transition. While activity increased substantially, absorption metrics indicate softening demand conditions relative to available inventory.
Transaction Activity: Robust Volume Growth
New listing activity surged 42.6% year-over-year to 67 properties, signaling renewed seller confidence or potential seasonal recalibration after January 2024's constrained supply. This influx of inventory translated to meaningful transaction acceleration:
- Pending sales increased 60.0% to 40 properties
- Closed sales rose 41.7% to 34 transactions
This volume expansion suggests buyer engagement remains present despite broader affordability pressures, likely driven by demand in specific price segments or property types.
Pricing Dynamics: Significant Appreciation with Caveats
Price metrics show dramatic year-over-year increases:
- Median sales price: $425,500 (+16.7%)
- Average sales price: $555,806 (+52.6%)
The substantial divergence between median and average appreciation (+16.7% vs. +52.6%) indicates transaction composition shifted heavily toward higher-priced properties. This likely reflects stronger demand in premium segments rather than uniform market appreciation, suggesting segmentation by price point.
Sellers achieved 95.7% of list price (essentially unchanged from 95.8%), indicating stable negotiating dynamics despite increased inventory.
Inventory and Absorption: Extended Marketing Timelines
Days on market increased 11.6% to 77 days, the critical metric for understanding current market friction. Despite strong sales activity, properties required longer marketing periods—a clear signal of softening absorption relative to supply.
Active inventory expanded 22.4% to 191 homes, pushing months of supply to 3.8 months (+5.6%). While still within balanced-market parameters (typically 4-6 months), the upward trajectory warrants monitoring. Markets approaching 4+ months historically favor buyers with increased negotiating leverage.
Strategic Implications
For Sellers: Pricing discipline remains essential. The 77-day marketing timeline suggests properties must be positioned competitively from listing inception. The substantial average price growth reflects successful outcomes in premium segments, but median appreciation of 16.7% provides more realistic expectations for typical properties.
For Buyers: Expanding inventory and longer days on market create improved selection and potential negotiating opportunities. The market has moved from urgency-driven conditions toward more measured decision-making timelines.
Market Outlook: The combination of strong transaction volumes, rising inventory, and extended marketing periods suggests a market normalizing from previous supply-constrained conditions. Months of supply trending toward 4.0+ would signal further shifts toward buyer-favorable dynamics.
