In a recent Global News Morning interview with Paul Brothers, I provided a current Halifax real estate market update for 2026. We discussed how the latest market data shows stability and confidence in the single-family home segment, while the condo market continues to adjust and present opportunities for buyers. The conversation focused on what these trends mean for both buyers and sellers here in Halifax, offering insight into pricing dynamics, demand shifts, and where the market appears to be headed as we move further into 2026.

January’s market data reinforces a trend we’ve been discussing for some time now: consistency in the single-family home market and ongoing adjustment in the condo segment. While the headlines may change month to month, the underlying patterns are becoming clearer — and that clarity matters for buyers and sellers making decisions in 2026.

Let’s break down what the numbers are telling us and, more importantly, what they mean for homeowners and buyers across the Halifax region.

Single-Family Homes: Stability Builds Confidence

The single-family market continues to demonstrate resilience and predictability — two characteristics that are critical for long-term confidence.

In January, the average sale price came in at $619,309, slightly lower than December but still higher than this time last year. Sales activity strengthened meaningfully with 230 homes sold, up both month-over-month and year-over-year. Inventory levels remained controlled, with 2.1 months of supply, keeping the market firmly in seller-leaning territory.

New listings rebounded sharply following the typical December slowdown, landing almost exactly where they were this time last year. This tells us something important: the market is behaving normally again.

That predictability is healthy. When prices move within a narrow range, inventory is absorbed steadily, and sales volumes remain consistent, buyers are more willing to engage and sellers are more comfortable listing their homes. As confidence builds, activity tends to follow.

Looking ahead, this environment should set the stage for a busy and competitive Spring market, particularly for well-prepared and correctly priced homes. While we are unlikely to see the volatility of past cycles, strong demand paired with limited supply continues to support values.

Condos: A Market Still Searching for Balance

The condo market tells a very different story.

January’s average condo price declined to $458,118, down from both the previous month and from a year ago. Inventory remains elevated, with 175 units for sale and 3.6 months of supply, well above last year’s levels. While sales activity improved month-over-month, overall demand has not kept pace with supply.

This imbalance has created downward pressure on pricing and greater variability in outcomes. Some properties are selling well when priced strategically, while others struggle when expectations are not aligned with market realities.

That said, markets rarely move in a straight line. As prices adjust, condos will eventually reach a point where they represent a compelling alternative to single-family homes — particularly for first-time buyers, downsizers, and value-focused purchasers. When affordability improves enough, demand tends to return quickly.

For 2026, I expect the condo market to remain uneven but more stable than in the previous year, as pricing becomes clearer and buyer expectations recalibrate.

What This Means for Buyers and Sellers

For single-family homeowners, the message is encouraging. The market remains supportive, but success still depends on thoughtful preparation, accurate pricing, and professional marketing. Stability does not eliminate competition — it rewards strategy.

For condo sellers, realism is essential. Pricing aggressively or relying on last year’s numbers can lead to extended days on market. In today’s environment, the first few weeks of exposure matter more than ever.

For buyers, opportunity looks different depending on the segment. Single-family buyers should be prepared for competition, while condo buyers may find greater negotiating leverage and long-term value if guided properly.

Final Thoughts

Markets don’t reward guesswork — they reward informed decision-making.

January’s data reinforces a clear takeaway:
single-family homes are benefiting from consistency and confidence, while condos are still in a period of adjustment and opportunity creation.

At Coldwell Banker Maritime Realty, my role is to interpret these shifts clearly, set expectations early, and help clients move forward with confidence — regardless of market conditions.

If you’re considering a move in 2026 and want to understand how these trends affect your specific situation, a personalized market strategy is always the best place to start.

—

Chris Perkins
Broker/Owner, Coldwell Banker Maritime Realty
902 210 1223
chrisperkins@cbmaritime.ca

Nova Scotia has introduced a new First-Time Home Buyers Program (Pilot) that could help many renters become homeowners much sooner than they thought possible. The upside is clear: lower upfront costs, less money needed for a down payment, and major savings by avoiding mortgage insurance.

But like most well-intentioned housing programs, there’s another side to the story. While this program helps buyers get into the market faster, it does not create more homes — and that matters in a market where competition is already intense.

Before you decide whether this program is right for you, it’s important to understand how it works, who it helps most, and where the risks lie.

What Is the First-Time Home Buyers Program?

This pilot program, launched by the Government of Nova Scotia, is designed to help first-time buyers who can afford monthly mortgage payments but struggle to save a traditional down payment.

Instead of needing 5% or more down, eligible buyers may be able to purchase a home with as little as 2% down through participating credit unions across the province.

Even more importantly, buyers using this program do not pay mortgage insurance, which is typically required when you put less than 20% down.

Why Mortgage Insurance Matters (A Lot)

Mortgage insurance is one of the most misunderstood costs of buying a home.

Normally, when a buyer puts less than 20% down:

• Mortgage insurance is mandatory

• The premium is added directly to the mortgage

• It often costs $10,000 or more, depending on the purchase price

Under this program:

• The Province provides a guarantee instead of mortgage insurance

• That premium does not get added to your loan

• Your mortgage balance starts lower than it otherwise would

This means that although you’re starting with less equity because of the smaller down payment, much of that difference is offset by not financing a large insurance premium.

Who Is This Program Designed For?

In simple terms, this program is for people who:

• Are first-time home buyers

• Have stable income and can afford monthly payments

• Have struggled to save a full down payment

• Plan to live in the home as their primary residence

The program applies only in Nova Scotia and is accessed through participating credit unions, not directly through the government.

The Big Picture: How This Impacts the Market

To understand the broader impact, it helps to look at where most buyers are shopping.

In the Halifax Regional Municipality:

• Roughly 50% of all home sales occur between $400,000 and $600,000

• This price range is already the most competitive segment of the market

• Many first-time buyers are competing for the same limited inventory

This program makes it easier for more buyers to enter that same price range — but it does not add new housing supply. Learn more about the program here: First-time Homebuyers Program: pilot project - Government of Nova Scotia, Canada

My Professional Take

This program will absolutely help first-time buyers in the short term.

It allows people who can genuinely afford to own a home — but who can’t quite accumulate a down payment — to enter the market sooner. The savings from avoiding mortgage insurance alone are significant and shouldn’t be overlooked.

That said, there is also risk.

By removing barriers to entry without increasing housing supply, this program has the potential to:

• Increase competition in the most active price ranges

• Push prices higher more quickly over time

• Make affordability challenges worse for future buyers

In my view, the only sustainable way to improve housing affordability is by adding more inventory — more homes, more density, and more supply options that meet real demand.

This program is a helpful tool, especially right now. But it’s not a long-term solution on its own.

Written by Chris Perkins, Broker/Owner
902 210 1223
chrisperkins@cbmaritime.ca
Coldwell Banker Maritime Realty