Overview
Let’s Review the Halifax Real Estate Market for June 2022!
Inventory continues to climb in Halifax. Last month, we had 471 single-family homes, and 87 condos for sale. This month, these numbers have increased to 544 and 92. This is great news for buyers. More inventory means less bidding wars, less competition and more options when searching for a property.
Prices continue to rise in both single-family homes and condos. This may begin to level out in the coming months with more inventory coming to market, but we do not expect it to dip much: Halifax is still on the lower end (price-wise) in comparison to the rest of Canada, and has just been catching up the past couple of years. More and more people are catching on that this is a great place to be.
Condos and single-family homes still continue to sell very quickly. We are noticing fewer listings with offer deadlines, which means when a good offer comes in, sellers are accepting them. Buyers, if you view a property you like, don't be scared to submit an offer! Without deadlines, you may be the only one offering at that given point.
Single Family Homes are selling for on average 13% more than their listing prices, and Condos are selling for on average 10% more than their listing prices. So, sellers, there are still profits to be made. We are at a very interesting point in the market that is worth watching on both sides.
Jordan Gunn
Licensed Real Estate Assistant
The Andrew Perkins Real Estate Team
Keller Williams Select Realty
902-401-0373