Condo sales are on the rise, with 47 units sold in November 2024, up 9% from the 43 sales recorded in November 2023. This growth indicates steady demand for condos in Halifax, even as the cooler months settle in.
The average sold price for condos in November 2024 hit $489K, an impressive 11% increase year-over-year from $441K in November 2023. This price growth underscores the desirability of Halifax condos, making it a great time for sellers to consider listing their properties.
Condos are selling faster than they did a year ago, with an average of 31 days on the market compared to 42 days in November 2023. This 26% decrease in selling time reflects heightened competition among buyers, especially for well-priced and well-located units.
The condo inventory in Halifax has seen some shifts this November. While the number of condos for sale increased by 8% year-over-year (149 in 2024 versus 138 in 2023), new listings have dropped significantly, with only 42 condos hitting the market compared to 65 in November 2023—a 35% decrease. Months of supply remain relatively stable at 2.5, slightly higher than last year’s 2.2.
Sellers
With rising prices, low inventory, and decreasing days on market, now is an excellent time to consider selling your condo. Buyers are active, and demand remains high, particularly for properties priced competitively. If you’re curious about what your condo might sell for in today’s market, we offer FREE condo evaluations to help you determine your property’s value. Click here to request your evaluation today!
Buyers
Buying in Halifax’s condo market can be competitive, but with the right strategy, it’s possible to find your perfect place. With fewer new listings hitting the market, working with a local expert is crucial to stay ahead of the competition. As Halifax Condo specialists, we’re here to help you navigate the buying process and secure the best deal possible. Reach out for a free, no-obligation buyer consultation.
Author: Brynn Carmody
Real Estate Assistant
HalifaxCondos.co
Keller Williams Select Realty