The Halifax real estate landscape is continually evolving, and 2024 has been a pivotal year for new construction in the region. At The Pike Group, we’ve kept a close eye on the market, tracking 25 prominent builders to bring you the latest insights and trends.

Key Highlights from Halifax’s New Construction Sector YTD:

• Total Homes Constructed: As of this year, there have been 183 newly constructed homes confirmed in the Halifax Regional Municipality (HRM).

• Average Pricing: These homes boast an average price tag of $748,837, showcasing the premium nature of new builds in the area.

• Home Sizes: The average size of these new homes is 2,521 square feet, offering spacious living solutions.

• Cost per Square Foot: On average, the cost per square foot stands at $301.88, indicating the high-quality construction and finishes involved.

Leading Builders in Halifax’s New Construction Market:

Several builders have made significant strides in the market this year:

1. Cresco: Leading with 20 homes sold at an average price of $871,809.

2. Rooftight and Marchand: Both have nearly matched Cresco in sales volume, with homes averaging over $790,000.

3. Stonewater and Ramar: These builders offer a slightly more affordable entry point into the new construction market without compromising on size or quality.

In Halifax, certain areas have proven particularly popular for new constructions:

West Bedford: Known for its larger homes and higher price points, West Bedford remains a sought-after location. Despite its premium costs, the price per square foot is competitively priced, reflecting the area’s desirability. Local amenities like walking trails, parks, and proximity to the airport add to its appeal.

Beechville: This area also sees significant activity, with builders like Almandina and ATN leading in sales. The average prices in Beechville are slightly more accessible, and the homes are well-sized, making it a great option for many homebuyers.

Understanding these dynamics is crucial for anyone considering investing in or moving to a newly constructed home in Halifax. The Pike Group, a leader in Halifax real estate since 2014, provides expert insights and services to help clients navigate this complex market. With our comprehensive approach, including PreHome Inspections, Staging, and Professional Photography, we ensure that your home buying or selling journey is seamless and successful.

For more detailed insights and personalized advice on Halifax’s new construction market, contact Sandra Pike at The Pike Group, your trusted real estate expert with consistent top-ranking performance since 2017.