Halifax Housing Market Report - Year-to-Date Analysis
Stats from the Nova Scotia Association of REALTORS® (NSAR)

Halifax Housing Market Report

Year-to-Date Performance Analysis

Executive Summary

Market Activity: Halifax has recorded 2,984 residential transactions year-to-date, with properties averaging 35 days on market, indicating sustained buyer engagement despite broader economic headwinds.

Pricing Dynamics: Average selling prices of $640,009 reflect a modest 2% discount to listing prices, suggesting balanced negotiation conditions. Notably, 34% of sales exceeded asking price, while 55% required price adjustments.

Market Segmentation: The $500,000-$699,000 range represents 45% of all transactions, highlighting Halifax's appeal to middle-to-upper-middle market segments, with luxury properties ($1M+) comprising 6% of sales volume.

Market Performance Overview

2,984
Total Sales
35
Avg. Days on Market
$640,009
Avg. Selling Price
$652,970
Avg. Listing Price

Pricing Strategy Analysis

34% of properties sold above asking price, with an average premium of $22,506, indicating selective buyer competition in desirable segments.

Key Pricing Insights

  • 1,090 properties (34%) sold over asking, averaging $22,506 above list price
  • 1,626 properties (55%) required price reductions, averaging $40,542 in adjustments
  • 257 properties sold at exactly the asking price, representing pricing precision
  • 612 properties sold $1-$24,000 over asking, indicating moderate competition

Market Segmentation by Price Range

Price Range Units Sold Market Share Segment Analysis
Under $299,000 69 2.3% Entry-level market
$300,000 - $399,000 155 5.2% First-time buyers
$400,000 - $499,000 579 19.4% Core market segment
$500,000 - $599,000 772 25.9% Primary market driver
$600,000 - $699,000 562 18.8% Secondary market driver
$700,000 - $799,000 368 12.3% Upper-middle market
$800,000 - $899,000 198 6.6% Premium segment
$900,000 - $999,000 120 4.0% Near-luxury segment
$1,000,000 - $1,499,000 133 4.5% Luxury market
$1,500,000 - $1,999,000 30 1.0% High-end luxury
$2,000,000+ 14 0.5% Ultra-luxury segment

Strategic Market Insights

Investment & Strategic Considerations

  • The $500,000-$699,000 range represents 44.7% of total market activity, indicating robust middle-market demand
  • Luxury properties ($1M+) account for 6% of transactions, suggesting sustained high-net-worth interest
  • Average days on market at 35 days reflects balanced supply-demand dynamics
  • Price reduction frequency (55%) suggests initial pricing discipline is crucial for market success
  • Over-asking sales concentration in the $1-$24,000 range indicates measured buyer behavior rather than speculative activity