Halifax Real Estate Market Report - February 2022

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Market Trends

 

Overview

It’s time to review the Halifax Real Estate Market for February 2022!

The Halifax Real Estate Market continues to remain extremely competitive for buyers: currently, there are just under 200 active listings. If you are a buyer right now, you can attest that it’s not easy out there. Not impossible, but it certainly requires patience and an open mind.

Sales have decreased in comparison to this time last year in both single-family homes and condos. This is solely due to this year having less inventory. You can tell that buyers are still highly motivated, and the market remains in the sellers’ favour by the large increase in sold prices. The decrease in the number of days on the market signifies that properties are selling even faster than this time last year as if we even thought that was possible!

Staying informed about the market can be beneficial for both buyers and sellers. Key points to pay attention to for sellers are: properties are selling fast, in most cases over asking, and buyers are eager. Key advice to take away based on these stats for buyers is: Browse beneath your budget so you can remain competitive, and get pre-approved asap as homes are selling fast - your offer will likely not be accepted by a seller if you are not pre-approved. 

If you have any questions about the market, reach out!

 

Jordan Gunn
Licenced Real Estate Assistant
902-401-0373