As we dive into May 2024's real estate market update, Halifax continues to showcase its dynamic market. The average sold price has climbed to $607K, marking a 5% increase from last May's $577K. However, the number of sales has slightly dipped by 5.5%, with 555 homes sold compared to 600 in May 2023. Inventory is on the rise, with 979 homes for sale, a significant 22% jump from last year. New listings have seen a slight decrease of 1.4%, down to 778 from 789. Homes are taking a bit longer to sell, with days on market averaging 30 days, up from 24 days last May. The months of supply have also increased to 2.5, compared to 2.1 last year. For more detailed insights and what these trends mean for buyers and sellers, check out the full video update above!
Author: Brynn Carmody
Real Estate Assistant
Andrew Perkins Real Estate
Keller Williams Select Realty