Executive Summary
Analysis of 841 total sales transactions, with 752 completed and reported closings, reveals a market characterized by moderate inventory turnover and persistent pricing pressure. The average property required 63 days to sell, with 67% of reported transactions closing below asking price. Price reductions averaged $25,110, indicating sustained buyer negotiating leverage across the region. An additional 89 transactions remain pending final price reporting.
Market Overview
Of 841 total sales, 752 transactions (89%) have completed with reported sale prices, while 89 transactions (11%) remain pending final price disclosure at closing. All days-on-market metrics reflect the complete dataset, while pricing analysis is based on reported transactions only.
Days on Market Analysis
Market Velocity Distribution (All 841 Sales)
| Timeframe | Properties | Percentage |
|---|---|---|
| Under 7 days | 148 | 18% |
| 7-30 days | 304 | 36% |
| 31-90 days | 258 | 31% |
| Over 90 days | 131 | 15% |
The data indicates a balanced market with 54% of all properties achieving sale within 30 days, while 15% require extended marketing periods exceeding three months. The rapid absorption rate for properly priced inventory demonstrates continued demand across core markets.
Pricing Dynamics
Based on 752 reported transactions, pricing analysis reveals consistent downward pressure. The average adjustment of $25,110 represents approximately 5% below listing price across the market. Of reported sales, 503 properties (67%) closed under asking price while 249 (33%) achieved at or above asking price, indicating buyers maintain negotiating leverage in the current market.
Significant Price Reductions
| Address | Community | Price Reduction |
|---|---|---|
| Oceansea Drive | Glen Margaret | -$390,000 |
| Lynwood Drive | Brookside | -$230,000 |
| Heddas Way | Fall River | -$220,000 |
| Bloomingdale Terrace | Halifax | -$212,850 |
| McCabe Lake Drive | Middle Sackville | -$200,000 |
| Saltspray Lane | Halibut Bay | -$200,000 |
| Highway 1 | Ardoise | -$165,000 |
| Water Street | Baddeck | -$150,000 |
| McCabe Lake Drive | Middle Sackville | -$149,900 |
| Boutiliers Cove Road | Hackett's Cove | -$143,380 |
Luxury properties and waterfront listings experienced the most substantial reductions, with high-end properties exceeding $1M showing particular vulnerability to extended marketing periods and aggressive price adjustments. The waterfront and rural luxury segments demonstrate the greatest price elasticity in response to extended market exposure.
Geographic Market Activity
Top 20 Most Active Communities (All 841 Sales)
| Rank | Community | Transactions | Market Share |
|---|---|---|---|
| 1 | Halifax | 68 | 8.1% |
| 2 | Dartmouth | 57 | 6.8% |
| 3 | Middle Sackville | 32 | 3.8% |
| 4 | Bedford | 27 | 3.2% |
| 5 | Lower Sackville | 25 | 3.0% |
| 6 | Eastern Passage | 23 | 2.7% |
| 7 | Cole Harbour | 21 | 2.5% |
| 8 | Sydney | 19 | 2.3% |
| 9 | Kentville | 18 | 2.1% |
| 10 | Hammonds Plains | 17 | 2.0% |
| 11 | Truro | 16 | 1.9% |
| 12 | New Glasgow | 14 | 1.7% |
| 13 | Glace Bay | 13 | 1.5% |
| 14 | Wolfville | 11 | 1.3% |
| 15 | Bridgewater | 10 | 1.2% |
| 16 | Elmsdale | 10 | 1.2% |
| 17 | Fall River | 10 | 1.2% |
| 18 | Amherst | 9 | 1.1% |
| 19 | New Waterford | 9 | 1.1% |
| 20 | Spryfield | 8 | 1.0% |
Halifax and Dartmouth demonstrate commanding market dominance with 125 combined transactions, representing 15% of total market activity. The Halifax Regional Municipality communities (Halifax, Dartmouth, Bedford, Sackville areas, Cole Harbour, Eastern Passage, Hammonds Plains, Spryfield) collectively account for 298 transactions or 35% of the provincial market, confirming the urban core's continued primacy in transaction volume.
Market Implications
For Sellers
Strategic pricing at or slightly below market value has proven essential for minimizing days on market. The $25,110 average price adjustment underscores the cost of overpricing. Properties listed aggressively above comparable sales consistently require significant price reductions and extended marketing periods. The 54% absorption rate within 30 days for properly priced inventory demonstrates continued buyer demand and efficient market clearing for well-positioned properties.
Market Positioning
The 67% under-asking close rate combined with a $25,110 average price adjustment indicates buyers maintain negotiating leverage. Well-priced properties continue to attract competitive interest, while overpriced inventory faces extended exposure and material concessions. The 89% price reporting completion rate indicates strong transaction velocity and efficient market clearing.
Inventory Considerations
Properties exceeding 90 days on market represent 15% of all sales, indicating selective buyer behavior and the critical importance of accurate initial pricing strategy. The concentration of extended marketing periods in luxury and waterfront segments suggests particular price sensitivity at higher price points.
Methodology Note
This analysis encompasses 841 total sales transactions. Days-on-market and geographic distribution metrics reflect the complete dataset. Pricing analysis is based on 752 transactions with reported sale prices, excluding 89 properties with pending price disclosure at closing. All calculations use reported data only to ensure accuracy and prevent distortion from incomplete information.
.jpg)
