Halifax Real Estate: 2024 Recap & 2025 Market Outlook

Written by Chris Perkins: The Market, My Favourite Listing, Best Transformation and More!

The Halifax real estate market has always been dynamic, but 2024 brought a unique blend of challenges and opportunities for buyers, sellers, and investors alike. From rising interest rates finally taking a breather to record-breaking single-family home prices and stable condo values, the year was nothing short of transformative. As we step into 2025, the stage is set for even more exciting changes, including a competitive Spring market and new opportunities for savvy real estate moves. Whether you’re curious about the year’s top listings, remarkable property transformations, or where the market is headed, this recap and outlook will provide you with the insights you need to make confident decisions. Read on to discover the trends, stories, and strategies shaping Halifax real estate.

Interest Rates

After two grueling years of steadily rising mortgage rates, 2024 finally brought some much-needed relief. Instead of dreading rate announcements with worry and trepidation, they are now met with cautious optimism. Recent announcements have consistently reduced borrowing costs, offering relief to homebuyers and real estate investors alike. While rates aren’t yet low enough to significantly stimulate the Halifax housing market, they’ve provided welcome financial breathing room. Further drops are anticipated in the coming months, setting the stage for a competitive and active Spring real estate market in Halifax.

Single Family Homes in Halifax Regional Municipality

The Halifax real estate market ended 2024 with an all-time high Year-to-Date average price for single-family homes at $605,950—a 4.4% increase from 2023. This surge was driven by heightened home-buying activity, with sales up 12% year-over-year. Despite an uptick in new listings, inventory levels remained tight, leaving buyers competing for limited options.

Currently, housing inventory sits at just 2.3 months, meaning if no new properties were listed, all available homes would sell within that timeframe. This low supply underscores Halifax’s status as a seller’s market, where upward pressure on home prices is the norm. By year’s end, homeowners were still achieving 100% of their asking prices on average.

Learn Your Home Value | Start your single-family home search 

Condos in Halifax Regional Municipality

While some parts of the country have seen condo markets struggle, Halifax has remained resilient, thanks to a persistent lack of inventory. Despite the city’s skyline being dotted with cranes, most of the construction is for rental apartments rather than condominiums.

This limited supply has kept condo values remarkably stable. The average price of a condo in Halifax was $441,000 in 2024, virtually unchanged from 2023 (up just 0.25%). With only one additional new listing compared to 2023 and 715 total sales (just 14 fewer than the previous year), the Halifax condo market is a model of stability.

As the average price of single-family homes continues to climb, condos may soon become an increasingly attractive and affordable option for first-time homebuyers and downsizers alike.

Start your condo search | Learn the value of your condo.

One of my Favourite Listings of 2024

Every home I list has a story, and I love discovering what makes each property special. Instead of relying on generic and boring descriptions like "three spacious bedrooms, two spa-like bathrooms, and a chef’s dream kitchen," I aim to capture what it truly feels like to live there.

One standout this year was The Thorndean, a beautiful 200-year-old house transformed into unique condominium units. Showcasing this one-of-a-kind property was a privilege and an experience I enjoyed very much! Watch the video below.

Best Transformation of 2024

Helping my clients maximize their property value is one of the most rewarding aspects of my work. With access to a network of professionals—from stagers to contractors, organizers to movers—I handle all the details needed to prepare a home for market.

One standout transformation this year was a Spring listing that became one of the highest sales on its street. My client more than doubled her investment, and we managed every step of the process. Watch the Video Below. 

How Can I Help?

If you're planning to make a move in 2025, now is the perfect time to start planning. The key to a successful sale or purchase is having a clear strategy, and it’s never too early to begin.

I offer free home evaluations that provide invaluable insight into your property’s current value. With this knowledge, you can make informed decisions about your next move. I’m here to empower you with information and guide you every step of the way.

Contact me today to get started!