What You Need To Know About The Current Halifax Market
The second quarter of 2023 has continued to be a strong market. With an ever-growing population and families all over the province being displaced by devastating wildfires & floods, inventory levels continue to remain low. Despite an increase in the lending rate to 5% by the Bank of Canada, buyer demand remains strong and multiple offers remain common, with a large number of houses continuing to sell for over asking. The median price of a single-family detached home decreased 6.2% in the past three months over last year. This suggests that the raising of the interest rate has helped fight inflation and high housing prices seen in the second quarter of 2022.
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Q3 2023 – HRM Overall Stats
The following is a snapshot of what the housing market looked like over the last quarter for HRM. Keep in mind that each neighbourhood, property size, age, style etc will greatly affect the value of your property. If you would like to know more specifically what the market looked like in your neighbourhood in the last quarter or if you would prefer an in-depth analysis of your property, contact us directly. We would be happy to provide you with a FREE Competitive Market Analysis
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