Halifax Real Estate Market Report - August 2022

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Market Trends

 

Overview

 

Let’s Review the Halifax Real Estate Market for August 2022!

With a total of 752 active listings, and 710 sales last month, we still very much are in a seller’s market. 

The summer slowed down the multiple bidding wars and largely over-asking sale prices we have seen the past year, however even in the past week, we have noticed this beginning again. Properties our clients have been interested in over the past week or so had multiple bids and offer due dates. 

The number of sales in comparison to this time last year has decreased in both single-family homes and condos, and prices have increased. This shows that the market still remains competitive for buyers. Even though certain properties remain on the market longer than in recent times, The average number of days on market has still decreased slightly. 

Sellers, the best thing you can do for success at this time is the price your home correctly, and manage your expectations. We are at a very unique time in the market where selling prices and time spent on the market can be unpredictable. Stay patient and open-minded.

Buyers, we offer the same advice. Even though the market feels that it has slowed, we are nowhere near a buyer’s market just yet. You may run into competition offers in the coming months, so stay open-minded.

 

Call us today to talk all things Halifax Real Estate!

 

Jordan Gunn
Licensed Real Estate Assistant
Keller Williams Select Realty
902-401-0373