As we close out September, Halifax’s condo market continues to show positive momentum. Condo sales in Halifax have seen solid growth this month. In September 2024, 55 condos were sold, marking a 14% increase from the 48 units sold in September 2023. This rise in sales reflects strong demand for condos, as more buyers enter the market.
The average sold price for condos in September 2024 was $500K, up just 1% from $494K in September 2023. While this increase may seem modest compared to the broader real estate market, it suggests that condo prices remain relatively stable. For buyers, this can be an encouraging sign that the market isn’t experiencing drastic fluctuations, offering more predictability when planning their purchases.
Condos are selling faster compared to last year. In September 2024, the average number of days on the market for condos was 24, down from 30 days in September 2023. This quicker turnaround time indicates that buyers are acting swiftly in a competitive market, making it important for sellers to be well-prepared when listing their properties.
The number of condos for sale has increased by 13% compared to last year, with 154 active listings in September 2024, up from 136 in 2023. New listings have also surged by 21%, with 98 condos hitting the market this month. However, months of supply sit at 2.6, which is still relatively low, keeping the market in favour of sellers despite the rise in inventory.
Sellers
If you’ve been thinking about selling your condo, now could be a great time to take action. With condos spending fewer days on the market and buyer demand remaining high, you’re in a strong position to achieve a successful sale. As Halifax condo specialists, we offer FREE condo evaluations to help you understand your property’s value in today’s market. Click here to request your evaluation!
Buyers
Navigating the Halifax condo market can be challenging, especially as competition continues to rise. With more condos coming to market, there’s opportunity to find the right property—but acting fast can be key. If you’re looking to purchase, our team of condo specialists can help guide you through the process. Contact us today to chat about next steps!
Author: Brynn Carmody
Real Estate Assistant
HalifaxCondos.co
Keller Williams Select Realty