Halifax Real Estate Market Report - September 2022

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Real Estate

 

Overview

 

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

 

This is the first time in a long time that we see both condos and single family homes selling on average slower than the previous year. While prices continue to rise, the number of sales has been decreasing for some time. It’s no surprise when looking at the numbers that the market is slowing: It’s been the talk of all buyers, sellers and real estate professionals in the city for the past couple of months.

 

Our market will continue to remain in the sellers favour until inventory increases. Our city cannot seem to break 850 active listings in the last while. To put it in perspective, prior to COVID, an average Halifax Market had 2000-3000 active listings. Without inventory to supply the demand, prices will continue to increase.

 

Sellers, though the market is slowing, it is very much still in your favour. Halifax still does not have enough supply to meet the current demand. Buyers, you are in a better position now than you were the past two years to purchase your dream home: bidding wars are subsiding, and properties are selling much closer to asking.

 

Reach out today to meet your real estate goals.

 

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