Halifax Real Estate Market | Year in Review
The real estate market became increasingly competitive throughout 2020. Inventory saw a persistent decline while sales quickened their pace. Historically low interest rates and a sub one percent vacancy rate in the Halifax area compounded the problem. Rent got more expensive while the cost to borrow money was lowest I’ve seen in my 14 year career. These factors had a significant effect on our single family statistics.
The Single Family Market
The average price of a single family home in the Halifax Regional Municipality increased by 14% in 2020. This represents an average increase of approximately 1.24% in a month, meaning a house worth $300,000 would gain $3,720 in 30 days. This…
423 Views, 0 Comments