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Weekly Residential Market Statistic Update For Week of March 22nd to March 29th 2012
New Listings: 552 (476, 437, 463, 427) Sold: 155 (166, 169, 131, 166) Sale to List Ratio: 28% (35%, 28%, 39%, 39%) Expired/Cancelled/Withdrawn: 64 (63, 93, 82, 140) Active Single Family Home: 2557 (2433, 2368, 2350, 2286) Average Single Family Home List Price: $288,847 ($293,979, $302,404, $289,982, $289,146) Average Single Family Home Selling Price: $280,391 ($288,039, $296,761, $283,604, $281,824) Average Days on Market Single Family Home: 83 (86, 117, 97, 107) Active Condos: 249 (257, 253, 259, 249) Average Condo Listing Price: $264,309 ($243,105, $249,592, $246,056, $240,412) Average Condo Selling Price: $259,090 ($238,820, $244,333, $242,613, $236,218) Average Days on Market Condos: 120 (94, 63, 94, 143) So another lack lustre movement week on the Halifax real estate market. A ton of new listings and the first time we broke the 500 mark for listing additions all year. Sales are down this week which could be a direct relation to the cold weather and buyers resolve to wait it out until conditions improve. Condo numbers have been consistently strong and their absorption rate and value ever improving. unlike the single family home stats, the condo market is enjoying high demand, increased sales and higher then ever listing and selling prices. The general consensus remains the same, high demand for certain pockets of the city, a feeling of "time to commit" is still present and a overall excitement for things to come. Be sure to come back monday for the March monthly wrap up! 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 or would like to advertise on the Halifax Real Estate Blog. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst Newest blog post HERE The Weekly Halifax and Dartmouth Real Estate Market Stats and News Report (Every Thursday)3/22/2012
Weekly Residential Market Statistic Update For Week of March 15th to March 22nd 2012
New Listings: 476 (437, 463, 427, 391) Sold: 166 (169, 131, 166, 153) Sale to List Ratio: 35% (39%, 28%, 39%, 39%) Expired/Cancelled/Withdrawn: 63 (93, 82, 140, 42) Active Single Family Home: 2433 (2368, 2350, 2286, 2278) Average Single Family Home List Price: $293,979 ($302,404, $289,982, $289,146, $284,346) Average Single Family Home Selling Price: $288,039 ($296,761, $283,604, $281,824, $274,550) Average Days on Market Single Family Home: 86 (117, 97, 107, 117) Active Condos: 257 (253, 259, 249, 250) Average Condo Listing Price: $243,105 ($249,592, $246,056, $240,412, $226,300) Average Condo Selling Price: $238,820 ($244,333, $242,613, $236,218, $213,451) Average Days on Market Condos: 94 (63, 94, 143, 107) The after March break inventory rush has begun! The soon to be hottest time of the year ramps up with a big new listings stat and biggest hike in the inventory in a single week all year. I talked last week about the reality of multiple offers and the tip over to a "sellers" market. This week has been a confirmation of those theories and discussions with industry confirmation and stories starting to surface. One of the most shocking was a property in a desirable sector of the market that commanded 8 offers and almost 70k over asking price. Its a strange and exciting time in the Halifax real estate market right now. Lots of opportunity and excitement, also a need for caution and thorough research. 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 Newest blog post HERE Weekly Residential Market Statistic Update For Week of March 8th to March 15th 2012
New Listings: 437 (463, 427, 391, 353) Sold: 169 (131, 166, 153, 160) Sale to List Ratio: 39% (28%, 39%, 39%, 45%) Expired/Cancelled/Withdrawn: 93 (82, 140, 42, 66) Active Single Family Home: 2368 (2350, 2286, 2278, 2233) Average Single Family Home List Price: $302,404 ($289,982, $289,146, $284,346, $260,193) Average Single Family Home Selling Price: $296,761 ($283,604, $281,824, $274,550, $256,079) Average Days on Market Single Family Home: 117 (97, 107, 117, 86) Active Condos: 246 (253, 259, 249, 250) Average Condo Listing Price: $249,592 ($246,056, $240,412, $226,300, $264,087) Average Condo Selling Price: $244,333 ($242,613, $236,218, $213,451, $258,691) Average Days on Market Condos: 63 (94, 143, 107, 76) Im still quite shocked at the availability in many sectors of the current market. You have to be a savvy hunter with a few extra tricks to ensure that you are the first to strike on a desirable property. With multiple offer situations being a myth for most people in a buying situation, it has become a reality for some buyers that want to make their stand on a property that fits their needs with so much lacking inventory. Average selling price and sales are up and absorption rate is almost keeping pace with the inventory additions. All in all a busy week on the market and a forward push as we edge closer to the end of March break. Hold on to your seats Halifax, its going to get interesting! 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 #RealEstateStartsHere Newest Blog post HERE Weekly Residential Market Statistic Update For Week of March 1st to March 8th 2012
New Listings: 463 (427, 391, 353, 381) Sold: 131 (166, 153, 160, 138) Sale to List Ratio: 28% (39%, 39%, 45%, 36%) Expired/Cancelled/Withdrawn: 82 (140, 42, 66, 67) Active Single Family Home: 2350 (2286, 2278, 2233, 2264) Average Single Family Home List Price: $289,982 ($289,146, $284,346, $260,193, $282,190) Average Single Family Home Selling Price: $283,604 ($281,824, $274,550, $256,079, $277,215) Average Days on Market Single Family Home: 97 (107, 117, 86, 87) Active Condos: 253 (259, 249, 250, 251) Average Condo Listing Price: $246,056 ($240,412, $226,300, $264,087, $243,658) Average Condo Selling Price: $242,613 ($236,218, $213,451, $258,691, $236,829) Average Days on Market Condos: 94 (143, 107, 76, 143) Kind of a strange week to talk about. Highest listing week on the year so far but the absorption couldn't keep up! Sales are down this week which has caused the sales to list ratio plummet eleven points...yikes! My guess is the cold and crappy weather has kept all of those potential buyers inside for the much nicer weather projected near the end of the week. The area of market that didn't cool this week was condos. Prices edged up, sales are up and days on market remains lower then normal. My investment eyes are keeping watch on the condo and semi-attached stats as builders are selling foundations and plans because they can't keep up with demand. What an exciting time... 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 #RealEstateStartsHere Newest Blog post HERE  February enjoyed a healthy gain in sales during the month as it settles in just below the benchmark year of 2007. Sales remain healthy for this time of year with no clear sign of slowing and as a matter of fact its gaining momentum!  Inventory remains at an all time low coming at at a mere 3,672 active residential listings. With only a slight gain in stock it appears the market absorption is happening faster than anticipated. Well, its almost keeping up...  The residential average sold price took a nose dive in February but still managed to stay above previous years averages. Above average condo and starter home movement has contributed to the drop of this statistic. Things continue to push on as the spring quickly approaches. Activity is up in all areas, things are flying off the market and availability is still at an all time low. One can only wonder what the spring market will bring as the numbers keep edging Halifax into the first sellers market that this city has seen in ages! The general feedback and consensus when I talk to clients, peers and friends alike is "I was going to wait, but with everything happening I think its time for me to make a move (no pun intended)." Smart thinking in a market that is only going to go up in value, the only question is how much.
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 #RealEstateStartsHere Newest Blog post HERE Weekly Residential Market Statistic Update For Week of Feb 23rd to March 1st 2012
New Listings: 427 (391, 353, 381, 416) Sold: 166 (153, 160, 138, 117) Sale to List Ratio: 39% (39%, 45%, 36%, 28%) Expired/Cancelled/Withdrawn: 140 (42, 66, 67, 155) Active Single Family Home: 2286 (2278, 2233, 2264, 2236) Average Single Family Home List Price: $289,146 ($284,346, $260,193, $282,190, $294,792) Average Single Family Home Selling Price: $281,824 ($274,550, $256,079, $277,215, $286,626) Average Days on Market Single Family Home: 107 (117, 86, 87, 86) Active Condos: 259 (249, 250, 251, 255) Average Condo Listing Price: $240,412 ($226,300, $264,087, $243,658, $229,126) Average Condo Selling Price: $236,218 ($213,451, $258,691, $236,829, $223,726) Average Days on Market Condos: 143 (107, 76, 143, 135) This week has the highest number of new listing entries this year! The sales to list ratio remains at par with last week showing a strong late winter market push. Lots of new listing entries is a sure sign of the about to bloom spring market however, listings and sales have been solid all year so far and as a matter of fact broke many records in the past few months. 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! Follow me on Twitter (@HalifaxRealEst) to keep a pulse on the Halifax real estate market. Friend me on Facebook to keep up to date on all things real estate and see just how enhanced listings look. Stay tuned for the January Halifax real estate stats update. 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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