Halifax Real Estate Market Analysis
January - May 2025 • Sandra Pike Market Data
2,567 Listed • 1,678 Sold • 65% Absorption Rate
+131%
Sales Growth (Jan-May)
37
Avg Days on Market
32%
Selling Over Asking
$645K
Avg Selling Price
50%
DOM Improvement
485
May Sales (Record)
Monthly Market Activity
Days on Market Trend
Over Asking Performance
Price Range Distribution (YTD)
Market Challenges: Price Drops & Expirations
Pricing Dynamics: List vs Sell Prices
Market Analysis & Key Insights
🚀 Accelerating Market
Sales up 131% from January (210) to May (485)
Listings up 113% from January (350) to May (747)
DOM improved 50% from 52 days to 26 days
Clear momentum building through spring season
💰 Pricing Strength
32% selling over asking year-to-date
April peak: 44% over asking rate
$20,768 average over asking amount
Strong seller's market conditions persist
🎯 Sweet Spot Segments
$500K-$599K: 427 sales (25% of market)
$400K-$499K: 303 sales (18% of market)
$600K-$699K: 311 sales (19% of market)
Mid-market ($400K-$700K) dominates activity
⚠️ Market Challenges
Price drops increasing: 144 → 247 (+72%)
Expirations rising: 4 → 26 (+550%)
Average price drop: $38,260
Some sellers struggling with pricing strategy
📈 Market Velocity
65% absorption rate year-to-date
February peak: 71% absorption
Consistent 63-65% March through May
Strong and stable demand fundamentals
🔄 Seasonal Patterns
Spring surge confirmed: Peak activity in May
February anomaly: 71% absorption rate
DOM linear improvement: Each month faster
Typical seasonal acceleration pattern
Market Summary: Strong Seller's Market with Growing Activity
Current State: Halifax is experiencing a robust seller's market with accelerating activity, improving speed metrics, and strong pricing power. May represented a record month with 485 sales.
Key Drivers: Consistent 65% absorption rate, 50% improvement in days on market (52→26 days), and 32% of properties selling over asking price demonstrate healthy demand-supply dynamics.
Opportunities: The $400K-$700K price range represents 62% of all activity, making it the prime market segment. Fast-improving DOM suggests optimal timing for listings.
Challenges: Rising price drops (+72%) and expired listings (+550%) indicate some sellers are missing the market with initial pricing strategies. Professional pricing guidance is increasingly critical.
