Weekly Residential Market Statistic Update For Week of Feb 16th to Feb 23rd 2012
New Listings: 391 (353, 381, 416, 380)
Sold: 153 (160, 138, 117, 115)
Sale to List Ratio: 39% (45%, 36%, 28%, 30%)
Expired/Cancelled/Withdrawn: 42 (66, 67, 155, 70)
Active Single Family Home: 2278 (2233, 2264, 2236, 2207)
Average Single Family Home List Price: $284,346 ($260,193, $282,190, $294,792, $330,294)
Average Single Family Home Selling Price: $275,550 ($256,079, $277,215, $286,626, $317,534)
Average Days on Market Single Family Home: 117 (86, 87, 86, 109)
Active Condos: 249 (250, 251, 255, 256)
Average Condo Listing Price: $226,300 ($264,087, $243,658, $229,126, $201,605)
Average Condo Selling Price: $213,451 ($258,691, $236,829, $223,726, $198,507)
Average Days on Market Condos: 107 (76, 143, 135, 104)
The pre spring market keeps its momentum up with a similar showing to last week. Clients, peers and colleagues alike all have the same word on their lips...availability! Single family homes in the starter home section are flying off the market and condos sales are hotter then ever. Builders are enjoying the ability to sell their homes before build as home buyers clammer to lock in an interest rate and choice of property with the lack of selection on the market right now. One can only wonder if this a sample of things to come as the hottest time of year looms closer.
Have a personal question about the Halifax real estate market and how it relates to buying or listing your property? contact me to find out more and get the advantage!
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Weekly Residential Market Statistic Update For Week of Feb 9th to Feb 16th 2012
New Listings: 353 (381, 416, 380, 399)
Sold: 160 (138, 117, 115, 93)
Sale to List Ratio: 45% (36%, 28%, 30%, 23%)
Expired/Cancelled/Withdrawn: 66 (67, 155, 70, 94)
Active Single Family Home: 2233 (2264, 2236, 2207, 2170)
Average Single Family Home List Price: $260,193 ($282,190, $294,792, $330,294, $269,320)
Average Single Family Home Selling Price: $256,079 ($277,215, $286,626, $317,534, $263,098)
Average Days on Market Single Family Home: 86 (87, 86, 109, 115)
Active Condos: 250 (251, 255, 256, 248)
Average Condo Listing Price: $264.087 ($243,658, $229,126, $201,605, $256,583)
Average Condo Selling Price: $258,691 ($236,829, $223,726, $198,507, $248,749)
Average Days on Market Condos: 76 (143, 135, 104, 157)
Looks like the warm weather has brought out even more activity in the late winter market. Numbers are progressively getting better and client interest getting more frequent as the Halifax real estate market heats up. The sales to list ratio jumped 9 points this week due to the higher than usual volume of sales. The inventory did something very strange for this time of year...REDUCED! Not a typical event for the time of season and if this trend keeps up, the market will quickly shift to a sellers market. With interest rates going up at the end of the month, market values on the rise, its no wonder people are pulling the trigger on their property transaction.
Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? Contact me to advise you on your best plan of action for any of your real estate transaction needs. Feel free to leave a public comment or question below. Contact me if you would like a guest spot on the Halifax Real Estate Blog. Follow me on Twitter to keep up to the minute with all things Halifax real estate. @HalifaxRealEst
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Following the low inventory trend, January comes in at just over 70 active listings making it the second lowest entry in six years. Inventory followed its usual downward trend near the end of the year and settled in at the second lowest showing in 6 years as well.
The average sold price has followed the residential market trend...upwards! 2011 ended on a high note with a record breaking december price height. You can see the rising price happen post "ship building" announcement month. January comes in at a record breaking entry at just over the 380k mark.
Market share remains relatively unchanged from previous months. Duplex's have the majority share over all other categories combined. Properties over 12 units still have the lowest entry in Halifax with only 2 current actives.
So it seems that the buzz from the "ship building" confirmation has carried market momentum into 2012. The multi-res market is following the same trend as the residential property market with prices on the rise, inventory dropping and record breaking on a monthly basis. The Halifax real estate market is the healthiest its been in years and expected to improve as the year progresses. Stay tuned to find out...
Make sure to follow me on Twitter for updates on all things real estate. Friend me on Facebook to stay connected to the market. Check out the rest of the site to see my cutting edge approach to real estate and see just how different I do things and come back thursday for the weekly market update!
Please feel free to leave a public comment or question below or contact me for and personal inquiries.
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I mentioned in my last blog about an upcoming announcement. Well, If you take a look around the sight you will see all the banners have all changed to my new representing brokerage Royal Lepage Atlantic. More to follow on the move in a later post. One of the best real estate brokerages has welcomed the team and I with open arms and are excited to take advantage of the acquisition. Rest assured that my quality of service and unique approach follows me wherever I go and I look forward to exploring greater horizons toting the Royal Lepage Atlantic flag. Thank you for your encouragement and support through the change and I look forward to working with you all in the future!
"Expect better, deserve more"
Weekly Residential Market Statistic Update For Week of Feb 2nd to Feb 9th 2012
New Listings: 381 (416, 380, 399 ,401)
Sold: 138 (117, 115, 93, 75)
Sale to List Ratio: 36% (28%, 30%, 23%, 19%)
Expired/Cancelled/Withdrawn: 67 (155, 70, 94, 257)
Active Single Family Home: 2264 (2236, 2207, 2170, 2145)
Average Single Family Home List Price: $282,190 ($294,792, $330,294, $269,320, $262,474)
Average Single Family Home Selling Price: $277,215 ($286,626, $317,534, $263,098, $257,284)
Average Days on Market Single Family Home: 87 (86, 109, 115, 119)
Active Condos: 251 (255, 256, 248, 258)
Average Condo Listing Price: $243,658 ($229,126, $201,605, $256,583, $243,900)
Average Condo Selling Price: $236,829 ($223,726, $198,507, $248,749, $232,785)
Average Days on Market Condos: 143 (135, 104, 157, 114)
The market keeps its positive progression going this week with healthy gains in some key statistics. New listing additions remain strong this week but not contributing a whole lot to the overall inventory. The sold properties are making a steady increase in numbers pushing the sales to list ratio the highest its been this year. Days on market remains low and consistant for this time of year which keeps my thoughts on a healthy, booming spring market!
Be sure to check back frequently for news updates and further stat reports as well I will be making an announcement withen the next few days! Follow me on Twitter to stay up to date with all things real estate and Friend me on FaceBook to follow my real estate adventures.
Feel free to leave a public comment/question below or contact me for any personal inquiries.
Weekly Residential Market Statistic Update For Week of Jan 26th to Feb 2nd 2012
New Listings: 416 (380, 399 ,401, 375)
Sold: 117 (115, 93, 75, 68)
Sale to List Ratio: 28% (30%, 23%, 19%, 18%)
Expired/Cancelled/Withdrawn: 155 (70, 94, 257, 450)
Active Single Family Home: 2236 (2207, 2170, 2145, 2070)
Average Single Family Home List Price: $294,792 ($330,294, $269,320, $262,474, $295,225)
Average Single Family Home Selling Price: $286,626 ($317,534, $263,098, $257,284, $283,133)
Average Days on Market Single Family Home: 86 (86, 109, 115, 119, 144)
Active Condos: 255 (256, 248, 258, 242)
Average Condo Listing Price: $229,126 ($201,605, $256,583, $243,900, $247,549)
Average Condo Selling Price: $223,726 ($198,507, $248,749, $232,785, $236,535)
Average Days on Market Condos: 135 (104, 157, 114, 172)
Almost a repeat of last weeks additions and deductions. A big number of inventory additions with no real effect to the overall stat. Sales might seem low when looking at the sales to list ratio when gauging market heath however, its not so normal for this time of year. The other stat that has been abnormal and surprising in the last few weeks has been the days on market. These numbers have been lower in last few weeks than last year during peak times. Things are getting interesting in the market so stay tuned for the latest updates and news. Did you catch the monthly wrap up? scroll down to find out more...
Make sure to follow me on Twitter to keep up to date with all things real estate. Feel free to leave a public comment/question below or contact me for any personal inquiries you may have.
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Coming in at 376 sales this month, the January Stat point on the graph is hiding behind Jan 2008 as it was only a one sale difference. Not a bad sales entry to kick the year off and it looks as though 2012 has started with a bang!
Hitting all time record lows last month, the residential inventory continues its record breaking streak with the lowest entry in close to a decade. Coming in at just over the 3,500 mark, this stat in particular has many people wondering about the spring market.
From low to high...Average sold price this month climbs above every other year coming in at just over the $267k mark. Another interesting stat to keep an eye on as the inventory moves left or right of prediction.
Sales are strong, inventory is at an all time low and sale prices at an all time high. A stronger than ever Halifax real estate market to kick off the new year!
Tune in next week if Multi-Residential market stats are of any interest as I will publish an updated report. Follow me on Twitter for the latest news and all things Halifax/Dartmouth real estate. Feel free to leave a public comment/question below or contact me for any personal inquiries.
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Jeremiah Wallace, CD
Jeremiah has been involved with many aspects of the Real Estate industry for over twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah