Oakwyn Realty Ltd.

Executive Summary

The Melville, Nova Scotia real estate market is currently classified as a seller's market. The median asking price is $350K, up 84.8% over the past 30 days.

There are currently 3 active listings. Inventory has decreased 88.9% compared to last month.

Currently, listings spend an average of 22 days on market and the average price per square foot is $205.

Detached properties make up the largest share of the Melville market at 91% of active listings with an average price of $208K. Condo listings follow at 9% (avg $93K).

Sales Activity & Absorption

Volume

3
Active
22
Avg DOM
1
New (30d)
1
New (7d)

Market Signals

0
Price Cuts (30d)
1
New (7d)
0
Price Cuts
1
New (7d)

1 new listings appeared in the past month.

Interest Rates & Affordability

Current Rates

Bank of Canada Policy Rate2.25%
Prime Rate4.45%
Est. Variable Rate (Prime + 0.5%)4.95%

Lower rates increase purchasing power. The Bank of Canada sets the policy rate which influences prime rates across lenders.

Estimated Monthly Payment

Based on median price of $350K, 20% down, 25yr amortization
$1,628/mo
at 4.95% variable rate

This is an estimate only. Actual rates and payments will vary based on your credit profile, lender, and mortgage terms.

Market Outlook

This is currently a seller's market with strong demand and limited inventory. The Melville market currently has 3 active listings with a median price of $350K.

  • Prices rising (84.8% in 30 days)
  • Low price reduction rate (0% of listings)
  • Average price per square foot is $205

For Buyers

Competition is strong in Melville. Get pre-approved, work with a local agent, and be prepared to move quickly on properties you like. Consider expanding your search criteria. There were 1 new listings in the past week.

For Sellers

Conditions favor sellers in Melville. Price confidently based on recent comparables, and consider professional staging to maximize offers. Multiple-offer scenarios are common.

Search Melville

Browse all 3 active listings.

View All Listings

Resources

Market data is calculated from active and recently sold MLS listings as of March 2, 2026. Past performance does not guarantee future results. Consult a real estate professional for specific advice.

Data provided by CREA DDF. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA). Information deemed reliable but not guaranteed.