The Halifax real estate market kicked off 2025 with a bang, showing clear signs of momentum in February. From rising sales to faster transaction speeds, single-family homes in Halifax are experiencing heightened demand. Let's dive into the numbers and uncover what they mean for buyers and sellers alike.
Market Activity: A Surge in Sales
Sales Volume Sees a Significant Boost
Home sales increased by 27.6%, jumping from 210 transactions in January to 268 in February.
This uptick signals growing buyer interest and a possible tightening of inventory.
Higher Efficiency in Home Sales
In February, 71% of listed homes found buyers, compared to 60% in January.
This suggests that properties are moving more quickly and efficiently through the market.
Faster Sales: Days on Market Decrease
The average number of days on market dropped from 52 days in January to just 40 days in February.
A 23.1% decrease in selling time indicates that demand is ramping up.
Pricing Trends: How Are Prices Shifting?
A Slight Dip in Listing Prices
The average list price fell by 4.3%, declining from $672,396 to $643,687.
This could reflect sellers adjusting to market conditions or aiming to attract competitive offers.
Tighter List-to-Sale Price Ratio
The price gap between listing and final sale amounts narrowed, meaning sellers are pricing homes more realistically.
This is a sign of a healthier market, where buyers and sellers are aligning on property values.
More Homes Selling Over Asking Price
94 homes sold above asking in February, a big jump from 49 in January.
This means that 35% of all February home sales exceeded their listing price, up from 23% in January.
Bidding wars are heating up as demand outweighs supply in key price ranges.
Market Hotspots: Where’s the Action?
Mid-Range Homes Are Leading the Market
The $500K-$600K price bracket saw the highest activity, with 82 sales in February, up from 47 in January.
This segment remains attractive to buyers looking for well-priced single-family homes.
Stronger Sales in the $600K-$700K Segment
The upper-mid range also saw an increase, with 53 homes sold in February, compared to 29 in January.
This price range is becoming more competitive as buyers stretch their budgets.
Market Health Indicators: What’s Driving the Change?
Fewer Price Reductions
There were fewer instances of sellers dropping prices, signaling stronger buyer confidence and demand.
The average amount of price reductions also declined, reinforcing the notion that the market is stabilizing.
More Homes Selling at Asking Price
35 homes sold at their exact asking price in February, compared to 17 in January.
This reflects an increasingly balanced market where homes are being accurately priced from the start.
What This Means for Buyers and Sellers
For Buyers:
Expect competition, especially in the $500K-$700K price range.
Homes are selling faster, so act quickly when you find a property that fits your needs.
Be prepared for bidding wars on well-priced properties.
For Sellers:
The market is tilting in your favor, with more homes selling over asking.
If you price your home right, it has a higher chance of selling quickly and at full value.
The days of deep price cuts appear to be fading, making this a great time to list.
Final Thoughts: Halifax’s Market Gaining Strength
February 2025 brought solid indicators that Halifax’s housing market is heating up. With a notable increase in sales, quicker transactions, and higher competition in key price segments, we’re seeing signs of a shift toward a seller’s market. If this trend continues, buyers may face a more competitive environment, while sellers could enjoy stronger returns on their properties.
If you’re considering buying or selling, now’s the time to stay informed and act strategically. The market is moving fast—are you ready to move with it?
