Halifax Real Estate Market Update

Posted by Chris Perkins on Friday, October 19th, 2018 at 10:51am


We had lunch this week with a few representatives from CMHC (Canada Mortgage and Housing Corporation) and they gave us a quick update on what they see happening across the HRM.  Perhaps most notably, the average price of a Halifax Peninsula home has increased this year by a substantial 10.5%.  This is partly due to a low amount of inventory but also because many of these homes have undergone significant renovations.  Sales are also up by 6.4% creating a hot spot in our market.

Looking at the greater central metropolitan area, sales are up by 7.8% and the average sale price has also increased by 2.7%.  The average time to sell a home dropped by 18% to 71 days on the market.

Real Estate Market Snapshots:

Dartmouth

Sales increased by 7.6%
Average price down by 4.4%

Bedford/Hammonds Plains

Sales up by 5.9%
Average price down by 1.7%

Sackville

Sale up by 3.3%
Average price up by 12.9%

Fall River/Beaver Bank

Sales up by 29.5%
Average price down by 5.2%

Questions about our market?  Reach out to one of our representatives to get the answers you are looking for. We are committed to providing the best service possible to our clients buying and selling real estate in the Halifax area. If you’d like to learn more about what we do, contact us here.

Watch for our 3rd Quarter break down in the coming days!

Chris Perkins
Real Estate Consultant

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