Halifax Condos Market Report - January 2022

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

Halifax Condo Market Report - August 2021

Time to review the Halifax Condo Market!

The limited inventory in Halifax has kept the market in the seller’s favor for some time now. We've seen an increase in the number of sales in all areas except Bedford this past month. Even with only 74 active condo listings, sales have increased significantly as well. Prices also continued to rise on average 12% across the board this past month when we compare to this time last year. The number of days on market has continued to decrease significantly, which is expected with the limited inventory we are experiencing (only 5 active listings in both Clayton Park and Bedford!).

In all 4 regions, we have less than a month of inventory currently. As we have said before, this means that if no new listing hit the market, we would be completely sold out of condos in Halifax by the end of this month!

As you can see, the average price across the board is around 328K. Sellers, if you have a condo within the 300K-350K range that you are looking to sell, you have what the buyers want!

Andrew Perkins
902-488-0012
andrew@andrewperkins.co

Halifax Condos Market Report - June 1 - 30, 2021

Overview

We see green across the board for the month of June! In all of the major condo communities of Halifax, sales and average sold prices have increased over the past year!

In June, the Halifax Condo market was very much still in the seller’s favour. With the exception of Dartmouth, condos were selling in less than ten days! This is extremely fast. Dartmouth had a bit of a slow market last month, however, sales and prices still rose dramatically.

We are seeing average sold prices in all communities that align with the average selling price in Halifax over the past year: close to 350K. Condos are gaining popularity with the limited inventory as buyers are now seeing the benefits of securing Downtown property.

If no new condos were to hit the market, our current inventory would hit zero in under two months.

If you have a condo to sell, look no further. Give us a call today to maximize your return.

Andrew Perkins
902-488-0012
andrew@andrewperkins.ca