September Market Update: Understanding Terminated Listings

When Deals Don't Close: September's Terminated Listings Tell an Important Story

September revealed a nuanced picture of our market's dynamics, particularly when examining properties that came back on the market after terminated agreements. With 916 deals written during the month, the transaction volume remained robust—yet beneath the surface, 93 terminated deals offered valuable insights into current buyer and seller behaviors.

Of the 93 homes whose listings were terminated in September, 56 returned to market with an average listing price of $723,715. This represents a significant cohort of properties re-entering inventory, and the pattern of their return varied notably across our region. Halifax and Dartmouth each saw 11 properties come back to market, while Middle Sackville recorded 7, and both Bedford and Lake Echo registered 6 each.

The reasons behind these terminations follow familiar patterns: financing challenges, inspection discoveries, and buyer hesitation continue to be the primary catalysts for deals falling through. In today's elevated interest rate environment, financing remains particularly sensitive—a reality that sophisticated buyers understand as they structure their offers.

What Happened After Termination

The post-termination outcomes paint an intriguing picture of market resilience. Of those 93 terminated listings, 24 have since sold—demonstrating that properly priced properties with responsive sellers continue to find buyers. An additional 10 are currently under conditional sale, suggesting momentum has returned for these properties. Only 2 were cancelled outright, and just 1 was withdrawn completely, indicating most sellers remained committed to transacting.

Implications for Buyers

For purchasers in this market, these statistics underscore the importance of financial preparation and thorough property evaluation. The prevalence of financing-related terminations suggests that pre-approval alone may not suffice—buyers should work closely with their mortgage professionals to stress-test their purchasing power against potential rate fluctuations and ensure their financing is ironclad before submitting offers.

The inspection-related terminations also highlight the value of building contingency planning into acquisition strategies. In a market where properties are being scrutinized carefully, informed buyers who conduct comprehensive due diligence position themselves advantageously.

Insights for Sellers

For sellers, the data delivers a clear message: pricing precision and property presentation matter more than ever. With 56 properties returning to market after terminated agreements—and 334 homes adjusting their pricing—the market is demonstrating a low tolerance for aspirational pricing strategies.

Properties that return to market carry the psychological burden of being "second-chance listings," which is why getting the initial pricing and marketing strategy right is critical. The 24 homes that successfully sold post-termination likely benefited from strategic repricing, enhanced presentation, or improved terms that addressed the issues from the first attempt.

The Bottom Line

September's termination data reflects a market in transition—one that rewards preparation, realistic expectations, and strategic positioning. For both buyers and sellers, success increasingly depends on working with experienced professionals who can navigate these complexities and position transactions for completion rather than termination.