Let’s review the Halifax Real Estate Market for October 2022!
The number of sales has decreased substantially in comparison to this time last year. This is to be expected. The real estate market in 2021 was an anomaly that we all knew was not sustainable. That being said, the overall trends for the past decade still show that even with the decrease in activity, Halifax is a booming market. Prices continue to rise, and many properties are still selling quickly despite inflation and increasing interest rates. We are still very much in a seller’s market.
With less than two months of inventory in both single-family homes and condos, we are still a ways away from reaching a balanced market. Although properties are not selling instantly with multiple offers, they are still selling in under one month of hitting the market.
The colder months hold unique opportunities to sell your home. First, there are typically fewer properties on the market, therefore less competition. Second, the winter months tend to weed out unmotivated buyers: those who are ready to buy will not be deterred by the cold. With less competition and more motivated buyers, winter is still a great time to sell.
Buyers, we have worked with many successful clients in the past month that have secured properties without bidding wars and with little hassle. We would be happy to guide you through finding your dream property too!
Licensed Real Estate Assistant
Keller Williams Select Realty