Overview
It’s time to review the Halifax Condo Market for January 2022!
There are 21 active listings in all 4 condo districts combined: only 1 active listing in all of Bedford, and 0 in Clayton Park/Fairview. The winter is always a quieter time for the real estate market, but we know there is more to this limited inventory than just the cold weather. Since the pandemic, we have had both an influx of Canadians moving to the east coast, paired with the previous residents wanting to stay put. We have more people who want to live in Halifax than who wish to leave, creating a highly competitive landscape for buyers.
Prices are on the rise substantially in all four areas: Clayton park saw a 69% price increase in comparison to this time last year! The number of sales has decreased in all areas except the Peninsula, which had 13 sales in January of 2021, and 20 in January of 2022.
When looking at the Dartmouth condo market, you can see that the number of days on market is substantially higher than the other 3 condo districts. Even with an average of 100 days spent on the market, we see a 49% decrease in comparison to this time last year. This is due to a new construction condo that had been on the market for some time, selling this past month. Without this condo considered, the average days on market for Dartmouth condos in January was 7 days. A similar event happened in January of 2021, which explains why we still saw a decrease in market stay when comparing the two.
Do you have a condo in Clayton Park you are looking to sell? List it soon and you may have ZERO competition: something unheard of in real estate. Buyers, it’s tough out there. Work with us today for your best chance at success.
Jordan Gunn
Licenced Real Estate Assistant
Andrew Perkins Real Estate Team
902-401-0373
jordan@andrewperkins.co