Let’s Review Last Month’s Stats!
The inventory is still extremely limited in Halifax for both single-family homes and condos. We are still dealing with an inventory of less than 500 available listings. Buyers, be ready to compete!
The number of sales for both single-family homes and condos have increased substantially since this time last year. Condo sales, in particular, have increased by 100%! Our population is increasing rapidly as the rest of Canada learns that the east coast is the place to be!
The average sale price of both single-family homes and condos have also increased dramatically since last year. This is not a surprise. With the bidding wars, limited inventory and eager buyers in the area, the prices of homes have been increasing like never before. Halifax still has a ways to go until they reach the average sale prices of other parts of Canada, so we expect this trend to continue for some time.
Single-family homes are being sold even faster than this time last year, however, condo sales have slowed slightly. That being said, they are both being sold very quickly in comparison to previous years.
Less than 1.5 months of inventory for both single-family homes and condos. This proves the market is still very much in the seller’s favour.
Curious as to how these stats impact you? Buyer or seller, you can give us a call anytime at 902-488-0012. We are happy to help.