When it comes to selling a home in Halifax, understanding the market is crucial. If you're thinking about listing your property, you're probably wondering: How many homes are selling? What's the competition like? And most importantly, how can you get the best price?
Let's break down the numbers from 2016 to 2024 and uncover the key trends shaping Halifax's real estate landscape.
A Look at Halifax's Real Estate Journey
Over the past eight years, Halifax's housing market has experienced significant growth. From rising median selling prices to shifting supply and demand, these changes tell a compelling story for sellers and buyers alike...
RisingPropertyValues:ASeller'sDream
In2016,themediansellingpriceforahomeinHalifaxwas$270,000. Fastforwardto2024,andthatnumberhasclimbedto$560,000— more than doubling in less than a decade. This surge signals strongdemand,makingitanopportunetimeforhomeownersto cashinontheirinvestments.
YearlyBreakdownofMedianSellingPrices:
MARKET OVERVIEW
Key Market Insights:
Pricing Trends
The average selling price remained relatively stable throughout 2024, ranging from $560,815 to $644,026
Peak average price was observed in April at $644,026
Most active price segment:
$500,000-$599,999 with 1,061 sales
Market Activity
Highest inventory levels were in May with 671 new listings
Most active selling month was May with 473 sales
Average selling rate of 77% of listed properties
December showed strong resilience with 81% of listed properties selling
Over-Asking Price Performance
38% of homes sold above asking price
Average amount over asking: $30,561
Peak over-asking activity: June with 216 homes
Majority of over-asking sales were in the $1-$24,999 range (816 properties)
Market Efficiency
Average days on market (DOM): 33 days
Fastest selling month: February (9 days)
2,170 properties had price adjustments
Average price reduction: $40,901
2O24 AT A GLANCE
Key Observations from the Monthly Analysis:
Sales Volume Trends:
Peak sales occurred in May with 473 sales
Lowest sales volume in December with 228 sales
Strong spring market (April-June) with consistently over 400 sales per month
List-to-Sale Ratio Analysis:
February saw the highest list-to-sale ratio at 101%
Most months maintained a ratio above 96%
September showed the lowest ratio at 95.7%
Overall market showed strong pricing alignment between list and sale prices
Seasonal Patterns:
Spring market (April-June) showed highest transaction volumes
Summer months maintained steady sales activity
Traditional seasonal slowdown in winter months
Price ratios remained relatively stable despite seasonal volume changes
