This week, I carved out some time (and a large cup of coffee I mean wine) to dig deep into Halifax’s current inventory — and not just the shiny new listings, but the homes that haven’t sold. These are the properties that have been sitting, waiting, and often quietly dropping their prices.
With the help of AI, I combed through the data and patterns on every active listing in Halifax. We’re talking list prices, time on market, reductions, square footage — the whole deal. And spoiler alert: what’s happening behind the scenes tells a very different story than the “hot market” headlines.
Let’s break it down.
Market Overview: A Snapshot of Halifax's Unsold Inventory
Right now, Halifax has 352 active listings still on the market ( I did not include new construction) — and they range from cozy fixer-uppers to multimillion-dollar mansions.
Price Range: $29,900 to $7,995,000
Average List Price: $879,000
Median List Price: $699,900
Average Days on Market (DOM): 97
Listings with Price Reductions: 60%
That last stat alone speaks volumes — six in ten homes have had to adjust their price to try and catch buyer attention. That’s not just marketing fluff — it’s market truth.
Price Reductions: The Quiet Slide
If a home hasn’t sold, chances are it’s already come down in price — and in some cases, way down.
Average Price Reduction: $70,000 (~8%)
Largest Reduction: $551,000 — a 31.5% cut on a property in Clam Harbour
Listings with No Change: 40%
Listings with Price Increases: Only 3 out of 352 (brave or bold, you decide)
The longer a home sits, the more likely we see significant price drops. Buyers are watching and waiting — and they’re not biting at the first number.
Time on Market: What Sits, Slips
This part of the data really stood out.
Oldest Active Listing: 3993 Clam Harbour Road — on market since March 2023 (795 days!)
New Listings (as of May 6): 7
Listings Over 6 Months Old: 103 (29% of all listings)
In other words, nearly one-third of properties have been lingering for half a year or more. And what do they have in common? Most have already seen price reductions — or are overdue for one.
Where Are the Listings?
Certain pockets of HRM are clearly more active than others when it comes to listings.
Most Inventory: Halifax, Bedford, Fall River, Dartmouth
Highest Average Prices: Halifax Peninsula, Bedford, Halibut Bay
Lowest Average Prices: Rural zones like Pleasant Valley, Moosehead, etc
What we’re seeing is a two-tier market: urban and high-demand areas are holding value better, while rural listings are often priced more affordably but take longer to move.
Square Footage & Value: Is Bigger Better?
Across the board:
Average Property Size: 2,600 sq ft
Range: From 614 sq ft to over 11,400 sq ft
Luxury Properties ($2M+): 25 listings, most over 4,000 sq ft
Average Price/Sq Ft: About $340 (though this swings wildly depending on the area)
Halifax Peninsula tops the charts at $750–950/sq ft, followed by Bedford Waterfront and Fall River lakefront homes. Meanwhile, outer suburbs and rural areas come in as low as $150–250/sq ft — massive value for buyers looking outside the core.
Deeper Dive: Market Segments & Trends
Breaking the market down by price point gives us a clearer view of what’s moving (and what’s not).
Entry-Level Market (<$500K)
Listings: 91
Average DOM: 68 days
Price Reductions: 48%
Hot Zones: Lower Sackville, Dartmouth, Eastern Passage
These homes tend to move quicker, especially under the $400K line, where inventory is scarce.
Mid-Higher End Market ($500K–$1M)
Listings: 173
Average DOM: 83 days
Price Reductions: 63%
This is the most competitive zone right now. The sweet spot? Homes priced between $650K–$750K — they’re turning over faster than most.
Upper-Mid ($1M–$2M)
Listings: 60
Average DOM: 118 days
Price Reductions: 70%
This segment is slower, with many listings requiring hefty cuts to get noticed.
Luxury ($2M+)
Listings: 28
Average DOM: 159 days
Price Reductions: 54%
These homes linger longer — not due to lack of interest, but simply because the buyer pool is smaller and more selective.
Seasonal Listing Patterns
Looking at when homes were listed, there’s a clear trend:
Spring Surge: 32% listed in April and early May
Winter Slowdown: Only 12% listed in January
Fall Decline: Listings dip steadily from September onward
Not surprisingly, homes listed in spring see fewer price reductions — it’s the best time to catch buyers while they’re most active.
Overpricing Patterns
Here’s where things get really interesting:
41 properties have been on the market for over 180 days with no price drop
29 homes have had multiple price reductions, totalling more than 15%
Homes priced 20% above their neighbourhood average stay on the market 2.5x longer
It’s no longer enough to “test the waters” with a high price and wait for offers. The market is too smart — and buyers are too educated — for that now.
What Does This All Mean?
We’re in a transitional market. There’s no crash, but there’s a correction happening — and it’s all about pricing, presentation, and timing.
If you’re a seller:
Don’t wait too long to adjust if the market isn’t responding.
Watch your Days on Market like a hawk — once you pass 90, buyer interest starts to fade fast.
Price smart from day one — especially if you’re over $1M.
If you’re a buyer:
The mid-market is full of opportunity — especially in that $650K–$750K range.
Rural and outer suburb homes are offering serious value for size.
Keep an eye on listings that have recently dropped price — they’re often open to negotiation.
FAQs
Q: Is Halifax a buyer’s market right now?
A: It’s not fully tipped that way, but in some price points — especially $1M+ — buyers have the upper hand.
Q: Should I lower my price if my listing’s been sitting for 90+ days?
A: If you haven’t had meaningful showings or offers, yes. The data suggests that’s when momentum fades.
Q: What’s the best time to list my home?
A: Spring still reigns supreme. April–May listings are getting the most traction with fewer price cuts.
Final Thoughts from Me
Behind every unsold listing, there’s a story. But more importantly, there’s a pattern — and that pattern tells us what buyers are responding to (and what they’re ignoring). Whether you're selling or just watching the market from the sidelines, understanding what’s not selling is just as important as knowing what is.
If you want to chat about your own strategy — whether buying, selling, or figuring out where the opportunities are — let’s talk. Data is great, but real conversations make the difference.
