Overview
Today, we are going to review the Halifax Condo Market for the past year. It is always good to have a look at the year as a whole to get a picture of overall trends in the number of sales, price increases, and days on market.
First and foremost, we never thought we would see another Market Report with 0 active condo listings in Bedford, and we have never in the past 18 years seen a Halifax Condo Market with under 30 active listings. We have experienced firsthand that this year has been competitive for buyers, and the numbers confirm it.
The number of sales has increased in all four major condo districts since 2020. In the past, Halifax residents have always leaned more towards single-family homes, however, we have seen an increase in condo interest and popularity in recent years! This seems to be reflected in the increase in the number of sales.
Prices are on the rise in all four districts as well, which is highly expected given the bidding wars and limited inventory our market has experienced this past year. The most popular purchasing price range in Halifax tends to be around 300-500K, which is shown within these average selling prices. This price range is where we have noticed the most bidding wars.
Time spent on the market has decreased in all areas except Dartmouth, and our current condo market has less than one month of inventory. We are still very much in a seller's market heading into 2022!
Andrew Perkins
902-488-0012
andrew@andrewperkins.co