Monthly Market Reports
August 2024

Echoing similarities to other regions across Canada, Atlantic Canada is also reporting low inventory supply and increased competition when it comes to buyer activity. Buyers are competing aggressively on affordable housing and new listings, causing prices to spike. This is likely a result of current supply challenges and an increase in out-of-town buyers from Western and Central Canada. Unlike in 2023, average residential prices in Atlantic Canada are expected to increase for the remainder of year, by five per cent in Truro and Colchester, NS, one per cent in Halifax, NS, 1.5 per cent in St. John’s Metro, NL, and two per cent in Fredericton, NB, while Charlottetown, PEI is anticipated to remain flat. All markets in Atlantic Canada with the exception of Charlottetown - which is a buyer’s market - are considered to be seller’s markets.