Fairmount 2025 In Review
Executive Summary
District 5, encompassing Halifax's well-established west end neighbourhoods from Clayton Park to Rockingham and Kearney Lake, recorded 306 single-family listings in the analysis period, with 187 properties successfully closing at an average sale price of $689,275. This large district demonstrates predominantly buyer-friendly conditions, with 71.1% of sales closing below asking price and an average discount of $25,105.
The market shows significant geographic variation across its seven sub-districts. The Kearney Lake area (5-G) commands the highest average prices at $936,025, while Bridgeview (5-B) offers the most accessible entry at $584,642. With 75 failed listings (43 expired + 32 cancelled) representing a 24.5% failure rate, precise pricing remains critical—properties with accurate valuations move quickly (median 10 days), while overpriced inventory lingers for months.
Listing Status Distribution
The market activity breakdown reveals challenging conditions for sellers, with nearly one in four listings failing to transact. The combined 24.5% failure rate (expired and cancelled) indicates persistent pricing optimism that the market has rejected.
Pricing Performance Analysis
District 5 operates as a clear buyer's market, with over seven in ten transactions settling below list price. The average discount of $25,105 represents meaningful negotiating room for prepared buyers. Only 26.2% of sellers achieved premiums, averaging $26,112 above asking—typically for well-positioned, correctly priced properties.
| Metric | Value |
|---|---|
| Average List-to-Sold Ratio | 96.4% |
| Average Price per SqFt | $296.40 |
| Sold with Prior Price Reduction | 43 properties |
| Average Reduction (for reduced listings) | $38,581 |
The gap between median DOM (10 days) and average DOM (23 days) reveals a bifurcated market: correctly priced homes sell quickly, while overpriced inventory sits for months. Properties requiring pre-sale reductions averaged nearly $39,000 in cuts before transacting—a costly lesson in pricing precision.
Sub-District Analysis
District 5 comprises seven distinct sub-districts, each with unique market characteristics ranging from entry-level Bridgeview to premium Kearney Lake estates. Understanding these micro-markets is essential for both buyers and sellers.
The largest sub-district faces the district's highest failure rate with 15 expired and 7 cancelled listings. The established Clayton Park and Rockingham neighbourhoods offer mature lots and proximity to amenities, but buyers have demonstrated clear resistance to premium pricing in this segment.
Bridgeview offers the district's most accessible price point with strong absorption. The relatively high success rate and moderate days on market indicate steady demand from entry-level buyers and investors seeking value in established neighbourhoods.
Popular with families for school access and park proximity, this sub-district commands a modest premium over Bridgeview. Nine expired listings signal pricing sensitivity in the upper brackets, particularly above $800,000.
Executive-style homes dominate this corridor, offering larger floor plans at competitive per-square-foot pricing. The lower $/sqft reflects generous lot sizes and living space rather than inferior quality.
Proximity to Bayers Lake commercial district drives demand, particularly for newer construction on Bently Drive and surrounding streets. Six expired listings suggest resistance to aggressive pricing in the $900K+ range.
The most active sub-district by volume features waterfront-adjacent locations and established character homes. With 11 cancelled and 4 expired listings, sellers in this area face significant competition and buyer selectivity.
The district's luxury enclave commands the highest prices and per-square-foot values. Despite premium pricing, well-positioned properties move quickly—median DOM of just 14 days demonstrates strong demand for quality homes in this sought-after location near Kearney Lake.
Sub-District Performance Summary
| Sub-District | Sales | Avg Price | $/SqFt | Avg DOM | Failed |
|---|---|---|---|---|---|
| 5-G: Kearney Lake | 11 | $936,025 | $356 | 14 | 5 |
| 5-E: Bayers Lake Area | 17 | $789,282 | $280 | 27 | 7 |
| 5-D: Southwest Dunbrack | 23 | $714,899 | $275 | 21 | 5 |
| 5-F: Birch Cove Area | 42 | $709,433 | $291 | 25 | 15 |
| 5-C: Sherwood/Wedgewood | 32 | $667,761 | $311 | 19 | 13 |
| 5-A: Clayton Park/Rockingham | 36 | $621,455 | $288 | 31 | 22 |
| 5-B: Bridgeview | 26 | $584,642 | $303 | 19 | 8 |
Price Segment Analysis
Demand concentrates heavily in the $500K–$700K range, which captured 53% of all closed sales. Upper-bracket properties ($800K+) require precise pricing and extended market exposure, while the under-$500K segment offers limited but accessible inventory.
| Price Segment | Sales | % Share | Avg Price | Avg DOM |
|---|---|---|---|---|
| Under $500,000 | 14 | 7.5% | $424,714 | 26 days |
| $500,000 – $600,000 | 52 | 27.8% | $559,817 | 17 days |
| $600,000 – $700,000 | 48 | 25.7% | $647,445 | 24 days |
| $700,000 – $800,000 | 31 | 16.6% | $724,798 | 32 days |
| $800,000 – $900,000 | 15 | 8.0% | $832,686 | 32 days |
| $900,000 – $1,000,000 | 18 | 9.6% | $943,169 | 17 days |
| $1,000,000+ | 9 | 4.8% | $1,202,720 | 14 days |
Highest Sale
The district's top transaction demonstrates the premium potential—and pricing dynamics—of District 5's luxury segment.
| Metric | Value |
|---|---|
| Selling Price | $1,570,000 |
| Original/Final List Price | $1,688,000 |
| Sold Below Asking | −$118,000 (7.0%) |
| Days on Market | 2 days |
| Finished Square Feet | 4,580 sqft |
Street-Level Performance
High-activity streets provide meaningful pricing benchmarks for these established corridors.
Expired Listings Analysis
Forty-three properties expired without selling, collectively spending an average of 95 days on market. These listings reveal pricing thresholds buyers rejected, even after reductions. The data provides critical intelligence for realistic pricing strategies.
Original: $1,795,000 → Final: $1,750,000 | 124 DOM | 3,106 sqft
Original: $1,499,000 → Final: $1,399,999 | 123 DOM | 5,247 sqft
Original: $1,369,000 → Final: $1,369,000 (no reduction) | 142 DOM | 4,176 sqft
Listed twice at $1,299,900 | 110 DOM + 55 DOM | 2,171 sqft
Original: $1,249,000 → Final: $1,149,900 | 184 DOM | 2,784 sqft
Multiple expired attempts: $749,900 → $749,900 → $729,900 → $699,900 | Combined 303+ DOM | 1,626 sqft
279 Bently: Four expired listings at $879,000–$897,900 | Combined 303+ DOM | 2,960 sqft
The expired inventory reveals consistent buyer resistance above $800,000, particularly in sub-districts 5-A and 5-E. Multiple properties have cycled through 3–5 listing attempts without transacting, demonstrating that incremental reductions often fail to find market clearing prices. The Dakin Drive and Bently Drive examples show properties accumulating 300+ days across multiple listings—a costly lesson in initial pricing precision.
Cancelled Listings Analysis
Thirty-two listings were cancelled by sellers, representing strategic withdrawals to reassess pricing or timing. Several have since relisted at lower prices or successfully sold after corrections.
Cancelled at: $999,000 (249 DOM) and $859,000 (168 DOM) | 4,236 sqft
Cancelled twice: $1,049,000 → $989,000 (57 DOM) then $988,888 → $957,988 (47 DOM) | 3,206 sqft
Cancelled at: $999,900 → $969,900 (49 DOM) | 4,254 sqft
175 Cutter: Cancelled at $969,900 → $939,900 (56 DOM) | 3,365 sqft
119 Starboard: Cancelled at $919,900 → $890,000 (89 DOM) | 3,873 sqft
The success stories share a common theme: properties that ultimately transacted required 5–10% corrections from original pricing. The Lancaster Drive and Cutter Drive examples demonstrate that sellers who accept market feedback and adjust accordingly can still achieve strong outcomes—but only after acknowledging initial overpricing.
Current Active Inventory
Twenty-nine properties remain available, with many carrying extended days on market and significant price reductions. Buyers have substantial selection with room for negotiation.
| Street | Sub | Current Price | Reduction | DOM |
|---|---|---|---|---|
| Oakley Avenue | 5-C | $1,595,000 | −$100,000 | 234 |
| Sophia Street | 5-E | $1,299,999 | — | 12 |
| Roxbury Crescent | 5-D | $1,098,000 | −$102,000 | 134 |
| Cresthaven Drive | 5-F | $1,049,000 | — | 93 |
| Transom Drive | 5-F | $1,089,900 | — | 75 |
| Bently Drive | 5-E | $897,900 | — | 70 |
| Donaldson Avenue | 5-C | $839,900 | −$40,000 | 200 |
| Langbrae Drive | 5-D | $829,900 | −$40,000 | 150 |
| Fleetview Drive | 5-F | $849,900 | −$20,000 | 96 |
| Laurentian Drive | 5-C | $869,000 | −$30,000 | 136 |
Multiple properties above 100 DOM have already absorbed substantial reductions. The Oakley Avenue listing at 234 DOM represents the oldest active inventory—a clear signal of market resistance at its price point despite a $100,000 reduction.
Conditional Sales
Ten properties are currently pending under conditional contracts:
| Street | Sub | List Price | DOM |
|---|---|---|---|
| Glenbourne Court | 5-D | $595,000 | 104 |
| Glenbourne Court | 5-C | $599,000 | 114 |
| Outrigger Crescent | 5-F | $609,900 | 36 |
| Eliza Ritchie Crescent | 5-D | $649,000 | 78 |
| Dakin Drive | 5-F | $699,900 | 40 |
Strategic Takeaways
For Sellers
District 5's buyer-friendly conditions demand realistic pricing from day one. The data is unambiguous: 71% of sellers accepted below-asking prices, while 24.5% of listings failed entirely. Properties priced at market value move within 10 days; overpriced inventory sits for 100+ days and often fails to transact at all.
Sub-district matters significantly. Sellers in Kearney Lake (5-G) command premiums averaging $936,000 with faster absorption. Meanwhile, Clayton Park/Rockingham (5-A) sellers face the district's highest failure rate and longest average DOM—competition is fierce and buyer expectations are fixed.
For Buyers
This is your market. With 71% of transactions closing below asking and 29 active listings carrying significant days on market, negotiating leverage is substantial. The $500K–$700K segment offers the deepest inventory and fastest movement—be prepared to act on well-priced opportunities.
Upper-segment buyers ($800K+) have exceptional positioning: expired and cancelled listings indicate sellers with reset expectations. Properties that have already absorbed $50,000–$100,000 in reductions without selling may have further room for negotiation. The current active inventory above $800,000 represents motivated sellers who have faced extended market exposure.
District 5's single-family market operates as a clear buyer's market with significant variation across sub-districts. The 10-day median DOM for successful sales contrasts sharply with 95+ days for failed listings—a gap that underscores the binary nature of pricing decisions. Well-priced inventory transacts efficiently; aspirational pricing leads to extended exposure, costly reductions, and frequent failure. Sellers who embrace market reality from the outset achieve outcomes; those who resist face the data documented in 75 failed listings.
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