Halifax Real Estate Market Update: What Buyers & Sellers Need to Know in 2025
As we move into 2025, the Halifax real estate market continues to evolve, offering both opportunities and challenges for buyers, sellers, and investors. At Chisholm Group, we keep our finger on the pulse of market trends to provide expert guidance for our clients. Here’s what you need to know about the Halifax housing market in 2025.
Market Outlook: A Year of Transition
The latest Housing Market Outlook (HMO) report from the Canada Mortgage and Housing Corporation (CMHC) suggests that affordability improvements and economic recovery will drive renewed demand for housing in Halifax and across Nova Scotia. However, the pace of this rebound will vary depending on property type and location.
Home Prices & Sales: Lower mortgage rates and new lending policies are expected to unlock pent-up demand, leading to a boost in home sales. However, affordability remains a concern, and prices may rise more slowly compared to past years.
Housing Supply: While new home construction will remain above the 10-year average, fewer condominium apartments are being built. This shift is expected to impact urban areas, while demand for ground-oriented homes (detached, semi-detached, row houses) is set to recover slightly.
Rental Market: Higher vacancy rates will slow down rent growth, offering some relief to renters, though significant affordability challenges remain.
What This Means for Buyers
If you’ve been waiting for the right time to buy in Halifax and surrounding areas, 2025 could be your year. Lower interest rates are expected to improve borrowing power, and a steadier supply of resale homes may offer more options at different price points. With more flexible mortgage terms, first-time buyers and upgraders alike will find better opportunities.
Tips for Buyers:
Get pre-approved for a mortgage to take advantage of lower rates.
Consider resale homes, which may be more affordable than new builds.
Act quickly in competitive neighborhoods where demand is still strong.
What This Means for Sellers
Sellers will benefit from increased buyer activity, but realistic pricing will be key. As affordability remains a concern, overpricing your home may lead to longer time on the market. Proper home staging, strategic marketing, and pricing competitively will ensure a successful sale.
Tips for Sellers:
Work with an experienced realtor (like the Chisholm Group) to set the right price.
Highlight the unique features of your home to stand out in a competitive market.
Be prepared for negotiations, especially in price-sensitive segments.
Opportunities for Investors
With rental market conditions shifting, investors should closely monitor vacancy rates and rent trends. While Halifax remains a strong market for rental properties, increased supply could impact pricing strategies.
Key Takeaways for Investors:
Focus on high-demand areas where rental supply remains limited.
Consider properties with strong long-term appreciation potential.
Be mindful of policy changes impacting rental investments.
Why Work with Chisholm Group?
At Chisholm Group, we specialize in Halifax real estate and understand the local market inside and out. Whether you’re buying, selling, or investing, we provide expert insights to help you make the best decisions. Contact us today to discuss your real estate goals in Nova Scotia for 2025 and beyond.
