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Weekly Residential Market Statistic Update For Week of Jan 19th to Jan 26th 2012
New Listings: 380 (399 ,401, 375, 83) Sold: 115 (93, 75, 68, 30) Sale to List Ratio: 30% (23%, 19%, 18%, 36%) Expired/Cancelled/Withdrawn: 70 (94, 257, 450, 86 Active Single Family Home: 2207 (2170, 2145, 2070, 2186) Average Single Family Home List Price: $330,294 ($269,320, $262,474, $295,225, $264,000) Average Single Family Home Selling Price: $317,534 ($263,098, $257,284, $283,133, $256,488) Average Days on Market Single Family Home: 86 (109, 115, 119, 144) Active Condos: 256 (248, 258, 242, 250) Average Condo Listing Price: $201,605 ($256,583, $243,900, $247,549, $184,763) Average Condo Selling Price: $198,507 ($248,749, $232,785, $236,535, $174,333) Average Days on Market Condos: 104 (157, 114, 172, 78) A good number of new inventory was added the the market this week making this the fourth week in a row averaging around the 400 mark...impressive. The sale to list ratio makes a slow recovery from the holiday slump with the thanks to the better than average sales this week. Average list/sold made a staggering increase this week with a 50k jump over last week (High price homes are selling). Days on market also have a seasonally low showing this week showing good signs of a strong late winter market. Make sure to check back on the first for the monthly Halifax and area market review and every Thursday for the new real estate market report. Stay up to date with all things Halifax real estate by following me on Twitter and checking out my Facebook pages. Feel free to leave a public question or comment and contact me for any personal inquiries. Newest Blog post HERE Weekly Residential Market Statistic Update For Week of Jan 12thth to Jan 19thth 2012
New Listings: 399 (401, 375, 83, 263) Sold: 93 (75, 68, 30, 124) Sale to List Ratio: 23% (19%, 18%, 36%, 47%) Expired/Cancelled/Withdrawn: 94 (257, 450, 86, 146) Active Single Family Home: 2170 (2145, 2070, 2186, 2326) Average Single Family Home List Price: $269,320 ($262,474, $295,225, $264,000, $269,278) Average Single Family Home Selling Price: $263,098 ($257,284, $283,133, $256,488, $262,120) Average Days on Market Single Family Home: 109 (115, 119, 144, 96) Active Condos: 248 (258, 242, 250, 263) Average Condo Listing Price: $256,583 ($243,900, $247,549, $184,600, $251,280) Average Condo Selling Price: $248,749 ($232,785, $236,535, $174,333, $240,943) Average Days on Market Condos: 157 (114, 172, 78, 149) Kind of an average week on the market. New listing additions are still in abundance and the sold property edge up a little increasing the sales to list ratio a few points. The inventory increased again this week but the amout was small compaired to the number of new additions. An early jump on the market seems to be the game plan for some folks meanwhile others choose to patiently wait out the market activity and project their listing/purchase later in the season. Feel free to leave your opinion/comment below or contact me for any personal inquries. Follow me on Twitter (@HalifaxRealEst) to stay informed with all things Halifax real estate. Weekly Residential Market Statistic Update For Week of Jan 5th to Jan 12th 2012
New Listings: 401 (375, 83, 263, 303) Sold: 75 (68, 30, 124, 122) Sale to List Ratio: 19% (18%, 36%, 47%, 40%) Expired/Cancelled/Withdrawn: 257 (450, 86, 146, 148) Active Single Family Home: 2145 (2070, 2186, 2326, 2399) Average Single Family Home List Price: $262,474 ($295,225, $264,000, $269,278, $245,645) Average Single Family Home Selling Price: $257,284 ($283,133, $256,488, $262,120, $240,341) Average Days on Market Single Family Home: 115 (119, 144, 96, 89) Active Condos: 258 (242, 250, 263, 269) Average Condo Listing Price: $243,900 ($247,549, $184,600, $251,280, $238,993) Average Condo Selling Price: $232,785 ($236, 535, $174,333, $240,943, $232,500) Average Days on Market Condos: 114 (172, 78, 149, 140) So the New Year Listing blitz continues with a staggering addition to the residential inventory. Being a second week in the month, the high "new listing" stat is quite shocking. With the final confirmation on the ship building contract this week, the news might have pushed some buyers into the early market excitement. Inventory climbs this first time in months, which is normal for this time of year. The abnormal thing would be the amount... Make sure to check back frequently for reports on multi-res information and stats, monthly numbers and all things Halifax real estate. Follow me on Twitter to get the most up to date info on all things Real Estate and check out my Facebook pages to see what an enhanced listing looks like. Contact me for and personal inquiries and to find out just how innovative and cutting edge my approach to buying/selling is. Remember #REALESTATESTARTSHERE. Newest blog post HERE Weekly Residential Market Statistic Update For Week of Jan 5th to Jan 12th 2012
New Listings: 375 (83, 263, 303,283) Sold: 68 (30, 124, 122, 161) Sale to List Ratio: 18% (36%, 47%, 40%, 57%) Expired/Cancelled/Withdrawn: 450 (86, 146, 148, 251) Active Single Family Home: 2070 (2186, 2326, 2399, 2483) Average Single Family Home List Price: $295,225 ($264,000, $269,278, $245,645, $281,035) Average Single Family Home Selling Price: $283,133 ($256,488, $262,120, $240,341, $274,561) Average Days on Market - Single Family Home: 119 (144, 96, 89, 131) Active Condos: 242 (250, 263, 269, 284) Average Condo Listing Price: $247,549 ($184,600, $251,280, $238,993, $229,413) Average Condo Selling Price: $236,535 ($174,333, $240,943, $232,500, $222,861) Average Days on Market Condos: 172 (78, 149, 140, 125) HAPPY NEW YEAR!!! The year starts off with new listings BANG! New listings are abnormally high this week with an even more abnormal spike in expired/cancelled/withdrawn listings. Even with this activity the residential inventory decreased almost below the 2k mark. Hope everyone had a good new years celebration! Feel free to leave a public question or comment below or contact me for any personal inquiries. Follow me on Twitter to keep informed with all things Halifax Real Estate. Remember #REALESTATESTARTSHERE Newest blog post HERE Another Record Month Ladies And Gentlemen! The Average Sold Price settles back down from last month's jump settling in just over the 240K mark. Not a record breaker by any means but it holds its overall annual gain over all previous years. Last season was really the only year that jumped over this years stats a few times, but not enough to knock this year out of first.  So after last month's shocking record breaking month, the holiday season finally cools the simmering real estate market. Most of the year was a sleeper until the news of the ship building contract woke it up. Home buyers pulled the trigger on the purchase of a new property to get the best deal before the projected 12% market price increase.  So heres the record breaker of the month. Not of all time like last months sales, but for the last eight years. Inventory is a key ingredient in the making of the market, buyers being the other. These two elements are what drive the market up (Sellers market), or down (Buyers Market). So I will now direct your attention to the current market conditions. We have a medium to high demand (as per sales) in property and the inventory has taken a sharp decline. Combine these elements with an influx of buyers (shipbuilding contract residual effect) and we have a recipe for a boom market. Of course there are many other factors that come in to play, but property is generally a supply and demand type product that is driven by this equation. In any case, I am looking forward to the new year in the Halifax real estate market and its ever changing elements.
Check in every Thursday for the weekly Halifax real estate stats update and news. Make sure to follow me on Twitter to stay informed with all things Halifax real estate and check out my Facebook pages for enhanced listing information. Feel free to leave a public comment or question or contact me for any personal inquiries. Newest blog post HERE |
Jeremiah Wallace, CDJeremiah has been involved with many aspects of the Real Estate industry for over fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products.. 
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