Statistics Canada recently released a study which provides a quarterly snapshot of the new housing market in Canada. The new housing market report measures the average quarterly price for all dwelling types listed or sold in Canada. There are no price indexes in the report. “Price indexes measure the price change for the same sample of house models period to period (constant quality) while the averages prices in this report include any reported homes on the market regardless of whether they were included in the previous periods sample. As a result, changes in average prices from one period to another can vary as they do not account for the size, composition or quality of the homes available in each quarter.” This report includes both single family (detached, semi detached, and townhomes) and multi-family dwelling types.

Data were collected for Canada’s 7 provinces (British Columbia, Manitoba, Saskatchewan, New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador). The remaining three provinces will be included in 2026. Data were taken from the CMAs of Victoria, Vancouver, Abbotsford–Mission, Kamloops, Kelowna, Regina, Saskatoon, Winnipeg, Fredericton, Moncton, Halifax, St. John’s, and the province of Prince Edward Island.

List and sales prices were collected as well as other housing characteristics for all dwelling types. The list prices were used to calculate average list prices while sales prices were used if list prices were not available for any geography.

Canada’s population increased 16.5% from July 2014 to 2024, with 52.1% of that growth in last three years (July 2021 to July 2024). Canada Mortgage and Housing Corporation (CMHC) noted , housing starts need to nearly double to around 430,000 to 480,000 units per year until 2035 to meet projected demand.

In Halifax population rose 48,023 from July 2021 to July 2024. The largest gain in population was in Vancouver and the smallest gain was in Kamloops.

Note: Completions data for Prince Edward Island are not available for 2024. Charlottetown is used in its place.

In Halifax, the number of new dwellings completed was 9,133 from July 2021 to July 2024. The largest number of new dwellings completed was in Vancouver and the smallest numbers were in St. John’s and Kamloops.

 In Halifax, the number of new dwellings completed per 1000 persons was 190 from July 2021 to July 2024. The largest number of new dwellings completed per 1000 persons was in Victoria and the smallest numbers were in St. John’s and Regina.

Average price of a new single-detached house in Halifax was $737,200 in Q4 2024, down from $759,600 in Q3 2024.The highest average prices were in Vancouver and Kelowna. The lowest average prices were in St. John’s, Prince Edward Island, Saskatoon, Regina, and Winnipeg.

Average price of a new semi-detached house in Halifax was not available.

Average price of a new row house in Halifax was $708,700 in Q2 2024, up from $695,500 in Q1 2024.The highest average prices in Q4 2024 were in Vancouver and Kelowna. The lowest average prices were in Fredericton and Moncton and Winnipeg.

Average price of a new condominium apartment unit in Halifax was $597,700 in Q4 2024, up from $568,100 in Q3 2024.The highest average price was in Vancouver. The lowest average price was in Winnipeg.

The cost to construct a single-detached house in Halifax rose 3.7% year-over-year in Q4 2024 and 28.0% compared to Q4 2021.

Sources: Statistics Canada, New Housing Market Report, 2024: Experimental estimates