By Sandra Pike, The Pike Group

The first five months of 2025 have revealed a fast-moving, highly strategic real estate market in Halifax. Below is a full breakdown of what’s been happening, backed entirely by data from the Nova Scotia Association of Realtors (NSAR). Whether you're preparing to list or just trying to understand where the market is headed, this is the real deal—no sugarcoating.

📈 Key Market Momentum Indicators

🔥 Explosive Growth in Sales and Listings

• Sales up 131%: January started with 210 sales, jumping to 485 by May—a record-setting month.

• Listings rose 113%: From 350 in January to 747 in May, reflecting seller confidence and strong inventory movement.

• Highest sales volume of 2025: May set the pace with 485 properties sold.

⏱️ Speed Acceleration: Days on Market (DOM)

• DOM improved by 50%: From 52 days in January to just 26 days in May.

• Each month saw faster sales than the last—proof that buyers are making quicker decisions.

• The Halifax market is gaining velocity month over month.

💰 Pricing Dynamics

Seller’s Market Conditions

• 32% of homes sold over asking across 1,678 total sales so far in 2025.

• April peak: 44% of homes sold over asking.

• Average over-asking premium: $20,768.

• Under-asking trend improving: Dropped from 69% in January to 51% in May.

Price Point Stability

• Average selling price YTD: $645,338.

• Price accuracy improving: The gap between list and sale prices is tightening.

• Dominant price range: $500K–$599K, with 427 sales (25% of all sales).

🎯 Market Segments That Are Performing

Top 3 Price Bands:

1. $500K–$599K: 427 sales (25%)

2. $600K–$699K: 311 sales (19%)

3. $400K–$499K: 303 sales (18%)

Together, the $400K–$700K range makes up 62% of all market activity—this is the true heart of Halifax real estate right now.

⚠️ Market Challenges

Increased Pressure on Pricing

• Price reductions up 72%: From 144 in January to 247 in May.

• Average price drop: $38,260.

• Expired listings surged 550%: From 4 to 26 between January and May.

• 34% of listings require price adjustments—a red flag for those pricing too optimistically.

🔍 Market Intelligence

Absorption Rate

• Overall absorption: 65% (1,678 homes sold / 2,567 listed).

• February peak: 71% absorption rate—possibly due to pent-up demand.

• March–May maintained stability: Holding at 63%–65%, signaling solid buyer activity.

Seasonal Momentum

• May confirmed the spring surge: Highest sales, lowest DOM, peak price performance.

• February was a surprise hit, punching above its weight in absorption and price activity.

• DOM is on a clear downward trend—each month gets quicker.

💡 Strategic Market Insights

Opportunities

• ✅ Momentum is building—best time to list may be right now

• ✅ Well-priced listings are selling in under 30 days

• ✅ Multiple offers still in play—especially in that $500K–$700K range

• ✅ Mid-market leads—this is where the qualified buyers are most active

Challenges

• ⚠️ Overpricing is risky—34% of properties are missing the mark

• ⚠️ Price drops are growing—and not small ones

• ⚠️ Sellers need realistic expectations—the data doesn’t lie

📊 Addressing the "Showing Drop" Narrative

You might recall from recent blogs that showings dropped 44% in May after a peak in early spring. But :

• Sales hit a record high in May with 485 homes sold.

• DOM fell to its lowest point yet: 26 days.

• Over-asking sales hit 37%—an extremely competitive stat.

👉 What does this mean?

Buyers are choosier, but they’re serious. Fewer showings are resulting in more sales. Translation: today’s buyers are motivated and ready to act when the price and property align.

🎯 Bottom Line: Halifax’s Spring Surge Is Real

Here’s where we stand at the end of May 2025:

• Market Type: Seller-favoured, with increasing buyer urgency

• Top Strategy: Price it right from day one—Halifax buyers are rewarding accuracy

• Hottest Segments: $400K–$700K (62% of all activity)

• Sales Speed: Average 26 days on market—one of the fastest paces in recent years

If you're considering selling or buying, this is a moment to watch closely. The Halifax market is performing with strength, strategy, and stability.

📞 Questions About the Data?

If you’d like to discuss how these trends impact your property goals, feel free to call me directly. This isn’t just stats—this is your real estate reality.