Nova Scotia isn't one of Canada's priciest provinces, but a home here still sells for a few hundred thousand dollars. The average house price in Nova Scotia came to $423,200 in September 2026 by the MLS benchmark measure, down 2.5% from September 2025.1 With that much on the line, learn what homes cost across the province before you shop for a mortgage.
Compared with the average house price in Canada, a typical home here costs far less. Below, you'll find prices by area and property type, the monthly payment on a benchmark home, the deed transfer tax due at closing and the other bills to plan for.
Key Points
- Nova Scotia's typical home was benchmarked at $423,200 in September 2026, 2.5% less than a year before.
- Homes that actually sold that month averaged $463,312, a 1.2% gain, since more higher-priced homes changed hands.
- Halifax-Dartmouth's benchmark of $541,700 sat about $118,500 above the province as a whole.
- Buying at $423,200 with 5% down at a 5% rate means a mortgage payment near $2,432 a month.
- Buyers in Halifax add a 1.5% municipal deed transfer tax at closing, which comes to about $6,348 at that price.
How Much Is A Typical Home In Nova Scotia Worth?
Based on the MLS benchmark, a typical Nova Scotia home was worth $423,200 as of September 2026. That was 2.5% below its September 2025 level.1
Sale prices went the other way. The homes that sold in September 2026 averaged $463,312, which was 1.2% more than a year before.1 An average shifts with whatever mix of homes sells that month, so a few pricier sales can lift it. The benchmark follows the same typical home over time, which makes it the steadier number to watch.
Looking back, the provincial benchmark started 2005 at $140,600 and set a record of $441,400 in May 2026.2 Today's $423,200 is roughly 4.1% under that high and about triple the 2005 level, so prices have eased a little since the spring.
Nova Scotia Benchmark Home Price, 2005 To 2026
Peak $441,400 in May 2026 | September 2026: $423,200
Source: CREA MLS Home Price Index, Nova Scotia composite benchmark price, not seasonally adjusted.
Prices across Nova Scotia shift with the area and the kind of home. CREA reports benchmark prices for the whole province and for Halifax-Dartmouth, split by property type:
| Area | Property Type | Benchmark Price (September 2026) | Year-Over-Year Change |
|---|---|---|---|
| Nova Scotia | All homes (composite) | $423,200 | -2.5% |
| Nova Scotia | Single-family homes | $420,000 | -2.3% |
| Nova Scotia | Townhouses | $519,700 | -1.6% |
| Nova Scotia | Apartments and condos | $423,500 | -5.3% |
| Halifax-Dartmouth | All homes (composite) | $541,700 | -4.1% |
| Halifax-Dartmouth | Single-family homes | $557,300 | -4.4% |
| Halifax-Dartmouth | Townhouses | $528,900 | -1.6% |
| Halifax-Dartmouth | Apartments and condos | $423,500 | -5.3% |
Source: CREA MLS Home Price Index (September 2026).2 If you're shopping in Halifax-Dartmouth, expect a typical home to cost roughly $118,500 more than the provincial benchmark. Apartments and condos saw the steepest yearly drop in both areas, at 5.3%.
Where Does The Average House Price In Nova Scotia Rank In Canada?
Nova Scotia sits well below the national average but at the top of Atlantic Canada. Canada's average price was $666,538 in September 2026, roughly $243,000 more than Nova Scotia's benchmark. No other Atlantic province had a higher benchmark that month.1
| Region | Home Price (September 2026) | Year-Over-Year Change |
|---|---|---|
| Canada | $666,538 | -1.6% |
| British Columbia | $923,887 | -2.4% |
| Ontario | $791,691 | -4.3% |
| Quebec | $563,241 | +2.2% |
| Alberta | $525,308 | +5.2% |
| Nova Scotia* | $423,200 | -2.5% |
| Manitoba* | $388,200 | +3.4% |
| Prince Edward Island* | $377,900 | +0.5% |
| Saskatchewan* | $376,700 | +2.8% |
| Newfoundland and Labrador* | $355,600 | +5.5% |
| New Brunswick* | $341,700 | +2.7% |
Source: CREA (September 2026).1 Canada and the four provinces above Nova Scotia are listed by average price, while Nova Scotia and every row below it (marked *) use the MLS HPI benchmark. Prices fell over the year in just three provinces: Nova Scotia, Ontario and British Columbia.
What Would A $423,200 Nova Scotia Home Cost You Monthly?
Your mortgage payment on a $423,200 home lands somewhere from $1,969 to $2,432 a month, and the bigger your down payment, the lower it is. Every example uses a 25-year payoff period and a 5% fixed rate.
Swipe to see all →
| Down Payment | Amount Down | CMHC Insurance Premium | Total Mortgage | Monthly Payment |
|---|---|---|---|---|
| Minimum (5.00%)* | $21,160 | $16,082 (4.00%) | $418,122 | $2,432 |
| 10% | $42,320 | $11,807 (3.10%) | $392,687 | $2,284 |
| 20% | $84,640 | None | $338,560 | $1,969 |
*At $423,200, a Nova Scotia home falls under the $500,000 line, so your minimum down payment is a flat 5%, or $21,160.
These numbers are for illustrative purposes only. Actual numbers may vary.
Smaller down payments of $21,160 or $42,320 trigger default insurance, and its premium ($16,082 or $11,807) is added to your loan. Reaching $84,640, or 20% down, removes it.
What A Different Rate Does To Your Nova Scotia Payment
On a $338,560 mortgage (20% down), a rate that's half a point higher or lower moves your payment $90 to $100 a month either way. Over 25 years, going from 4.0% to 6.0% adds more than $115,000 in interest.
| Interest Rate | Monthly Payment | Total Interest Over 25 Years |
|---|---|---|
| 4.0% | $1,781 | $195,708 |
| 4.5% | $1,874 | $223,591 |
| 5.0% | $1,969 | $252,165 |
| 5.5% | $2,067 | $281,402 |
| 6.0% | $2,166 | $311,279 |
These numbers are for illustrative purposes only. Actual numbers may vary.
The calculator below lets you test other prices, down payments and rates.
Mortgage Calculator
| Amortization | Payment | Total interest | Total paid |
|---|---|---|---|
| 15 years | $3,356.62 | $164,191.53 | $604,191.53 |
| 20 years | $2,773.78 | $225,707.84 | $665,707.84 |
| 25 years | $2,435.28 | $290,584.30 | $730,584.30 |
| 30 years | $2,218.55 | $358,677.44 | $798,677.44 |
| Year | Principal paid | Interest paid | Balance left |
|---|---|---|---|
| Year 1 | $9,805.24 | $19,418.13 | $430,194.76 |
| Year 2 | $10,251.44 | $18,971.93 | $419,943.33 |
| Year 3 | $10,717.94 | $18,505.43 | $409,225.38 |
| Year 4 | $11,205.67 | $18,017.70 | $398,019.71 |
| Year 5 | $11,715.60 | $17,507.77 | $386,304.11 |
| Year 6 | $12,248.74 | $16,974.64 | $374,055.37 |
| Year 7 | $12,806.13 | $16,417.24 | $361,249.24 |
| Year 8 | $13,388.89 | $15,834.48 | $347,860.35 |
| Year 9 | $13,998.17 | $15,225.20 | $333,862.18 |
| Year 10 | $14,635.17 | $14,588.20 | $319,227.01 |
| Year 11 | $15,301.16 | $13,922.21 | $303,925.85 |
| Year 12 | $15,997.46 | $13,225.91 | $287,928.39 |
| Year 13 | $16,725.45 | $12,497.93 | $271,202.94 |
| Year 14 | $17,486.56 | $11,736.81 | $253,716.38 |
| Year 15 | $18,282.31 | $10,941.07 | $235,434.07 |
| Year 16 | $19,114.27 | $10,109.11 | $216,319.81 |
| Year 17 | $19,984.08 | $9,239.29 | $196,335.72 |
| Year 18 | $20,893.49 | $8,329.89 | $175,442.24 |
| Year 19 | $21,844.27 | $7,379.10 | $153,597.97 |
| Year 20 | $22,838.32 | $6,385.05 | $130,759.65 |
| Year 21 | $23,877.61 | $5,345.77 | $106,882.04 |
| Year 22 | $24,964.19 | $4,259.19 | $81,917.86 |
| Year 23 | $26,100.21 | $3,123.16 | $55,817.64 |
| Year 24 | $27,287.94 | $1,935.44 | $28,529.71 |
| Year 25 | $28,529.71 | $693.66 | $0.00 |
Estimates only. How we calculate: home price minus your down payment, repaid in equal payments at your rate, with interest compounded semi-annually, as fixed-rate mortgages in Canada usually are. Accelerated payments are your monthly payment split in two (bi-weekly) or four (weekly), which pays the mortgage off sooner. With less than 20% down on a home under $1.5 million, the CMHC default insurance premium (2.80% to 4.00% of the loan, by down payment) is added to the mortgage; in Ontario, Quebec and Saskatchewan, the provincial sales tax on it is due at closing and isn't included. Property tax and other fees are not included.
What Does Deed Transfer Tax Cost In Nova Scotia?
Each Nova Scotia municipality sets its own deed transfer tax rate, and the tax is charged on the sale price of the home you buy.3
Municipal rates ran from 1.0% to 1.5% as of July 2026.3 The table shows what a sample of towns and municipalities charge on a home at the provincial benchmark:
| Municipality | Deed Transfer Tax Rate | Tax On A $423,200 Home |
|---|---|---|
| Halifax Regional Municipality | 1.5% | $6,348 |
| Cape Breton Regional Municipality | 1.5% | $6,348 |
| Town of Truro | 1.5% | $6,348 |
| Town of Kentville | 1.5% | $6,348 |
| Municipality of the District of Lunenburg | 1.25% | $5,290 |
| Town of New Glasgow | 1.0% | $4,232 |
| Town of Yarmouth | 1.0% | $4,232 |
These numbers are for illustrative purposes only. Actual numbers may vary.
There's no first-time buyer exemption listed on the province's deed transfer tax page, so plan to pay the full rate and confirm it with your municipality.
Buyers from outside Nova Scotia can face a second tax at closing. The provincial non-resident deed transfer tax is 10% of whichever is higher, the purchase price or the assessed value, on agreements signed after March 31, 2025.4 At $423,200, that adds $42,320. For transfers on or after August 6, 2026, you may avoid it by moving to the province within 12 months of buying and later proving your residency.4
Can Higher Mortgage Rates Push Nova Scotia Prices Down?
They can, because rates decide how big a loan buyers can carry. Cheaper borrowing lets more people buy, and that extra demand tends to lift prices. Pricier borrowing shrinks the number of buyers who qualify, so prices often flatten or slip.
Nova Scotia buyers now face a higher Bank of Canada policy rate: 2.50%, up from 2.25%, as of October 28, 2026.5 Variable-rate mortgages and lines of credit now cost more. The province's market had slowed before the increase, with 929 sales in September 2026, a 6.4% year-over-year decline.1
Which Factors Change Home Values Across Nova Scotia?
Whether you're shopping in Truro, Yarmouth or Halifax, the same handful of things decide what a home is worth.
Where The Home Is
Location usually matters most. Put the same house in two neighbourhoods and the prices can be far apart. In Nova Scotia, the roughly $118,500 gap between the Halifax-Dartmouth benchmark and the provincial one shows how much location counts.
How Big It Is
More square footage usually means a higher price, though a smaller home in a sought-after spot can still cost more than a large one elsewhere.
Finishes And Upgrades
Higher-end finishes add to the price. Hardwood floors and granite counters, for example, sell for more than carpet and linoleum.
How Old It Is And What Shape It's In
A dated home that needs work generally sells below a newer one. With a newer home, you're less likely to face big repair bills in the first few years, and buyers pay extra for that.
Is Nova Scotia A Buyer's Or Seller's Market Right Now?
Right now it leans toward buyers. Supply and demand steer prices, so the balance matters. In a seller's market, many buyers compete for few listings, prices climb and sellers have the upper hand.
Nova Scotia looks like the reverse of that this fall. Inventory stood at 6.1 months at the end of September 2026, up from 5.0 months a year before and above the 5.1-month long-run average.1 Active listings climbed 13.4% over the year to 5,661.1 More listings give you more homes to compare and a better chance of bargaining on price.
Jobs And Incomes
Plenty of jobs, rising wages and low unemployment put more money in people's pockets. Buyers with steady, higher incomes can take on a big purchase like a house.
That extra buying power adds demand for homes, which can push prices higher.
Can Your Budget Handle A $423,200 Nova Scotia Home?
Your mortgage affordability depends on three things: your earnings, your existing debts and the size of your down payment. Before approving you, a lender checks two ratios, called GDS and TDS.
GDS And TDS, Explained
GDS (gross debt service) measures how much of your income your housing takes: your mortgage payment plus costs like property taxes.
TDS (total debt service) starts with that and adds every other debt payment you make, from a car loan to credit card bills. The two together are your debt service ratio.
Those ratios set the loan amount that you can get approved for. Once you know that number, you can stick to Nova Scotia listings in your price range and skip the ones that would stretch you too far.
Average Home Prices Across Canada
What Else Should You Budget For In Nova Scotia?
Set your budget before you start viewing Nova Scotia listings. You'll only look at homes you can afford, and you're less likely to end up "house poor" after you move in.
Your regular spending matters here as much as your income does.
Write down everything that leaves your account in a month so you can see what's left for a mortgage payment. Common expenses include:
- Utilities
- Groceries
- Subscriptions
- Car loans
- Gas
- Car insurance
- Student loans
- Personal loans
- Credit card bills
- Entertainment
- Miscellaneous expenses
Total those costs, take them away from your take-home pay, and the remainder is roughly what you could put toward a mortgage. At the provincial benchmark, that remainder needs to cover about $1,969 to $2,432 a month.
Bills That Come With Owning In Nova Scotia
Your mortgage won't be your only housing bill once you move in. Plan for these ongoing costs:
| Expense | What To Expect |
|---|---|
| Property taxes | Your municipality's rate is applied to your home's assessed value. In Halifax for 2026/27, the general urban residential rate of $0.687 and the $0.300 provincial rate add up to $0.987 for every $100 of assessed value.6 With a Halifax assessment of $400,000, you'd owe roughly $3,948 a year at that rate, plus any area rates like transit. |
| Home insurance | Get quotes for a policy that covers the building and what's inside it, and add the premium to your monthly budget. |
| Utilities | Plan for heat, power, water, internet and phone every month. |
| Maintenance and repairs | Put money aside monthly for big-ticket items like a new roof, furnace or appliance. |
| Condo fees | Condo owners pay a monthly fee, which covers some shared costs you'd otherwise pay on your own. |
Getting Ready To Buy In Nova Scotia
Nova Scotia homes cost much less than the national average, but buying one is still a big commitment. At the September 2026 benchmark of $423,200, your mortgage would run $1,969 to $2,432 a month, plus the deed transfer tax your municipality charges at closing. Compare prices in the areas you're considering, then get your credit and savings in shape so the mortgage is easier to secure.
Average House Price In Nova Scotia FAQs
What's Nova Scotia's average house price in 2026?
Have Nova Scotia home prices risen or fallen this year?
How far below the Canadian average is Nova Scotia?
On a typical Nova Scotia home, what's the monthly mortgage payment?
What is the deed transfer tax on a $423,200 home in Nova Scotia?
Can rising interest rates lower Nova Scotia home prices?
What other bills does a Nova Scotia homeowner pay?
- Property taxes
- Home insurance
- Utilities
- Maintenance
- Repairs
- Condo fees
Sources
- Canadian Real Estate Association (CREA). (2026). Nova Scotia Association of REALTORS housing market statistics (September 2026). https://creastats.crea.ca/board/nsar
- Canadian Real Estate Association (CREA). (2026). MLS Home Price Index data, not seasonally adjusted (monthly), Nova Scotia and Halifax-Dartmouth. https://www.crea.ca/housing-market-stats/mls-home-price-index/hpi-tool/
- Service Nova Scotia. (2026). Municipal deed transfer tax rates (July 2026). https://novascotia.ca/sns/pdf/ans-property-dtt-rates.pdf
- Government of Nova Scotia. (2026). Non-resident provincial deed transfer tax. https://www.novascotia.ca/non-resident-provincial-deed-transfer-tax
- Bank of Canada. (2026). Bank of Canada raises the policy rate by 25 basis points to 2.50%. https://www.bankofcanada.ca/2026/10/fad-press-release-2026-10-28/
- Halifax Regional Municipality. (2026). Tax rates 2026/27. https://www.halifax.ca/home-property/property-taxes/tax-rates
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