Halifax (HRM) Residential Market Statistic Update For Week of May 23rd-30th 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  530 (545, 570, 606, 683) *513
Sold:  176 (160, 176, 172, 166) *194
Sale To List Ratio: 33% (29%, 31%, 28%, 24%) *38%
Expired/Cancelled/Withdrawn:  86  (79, 106, 97, 125) *130
Total Active Halifax/Dartmouth Inventory:  5,484 (5,419, 5,369, 5,213, 5,084)
Active Single Family Home: 3675 (3647, 3608, 3505, 3423) *2924
Average Single Family Home List Price:  $304,362 ($303,352, $303,040, $296,250, $293,869) *312k
Average Single Family Home Selling Price:  $297,972 ($296,297, $295,780, $288,403,$286,471) *304k
Average Days On  Market Single Family Home: 89 (97, 85, 80, 74) *73
Active Condos:  439  (423, 418, 404, 384) *263
Average Condo Listing Price:  $324,576 ($236,769, $211,677, $263,420, $293,533) *247k
Average Condo Selling Price:  $318,884 ($233,352, $204,671, $258,366, $285,818) *238k
Average Days On Market Condos:  88 (63, 48, 44, 72) *57
Halifax/Dartmouth Absorption Rate (weeks):  35 (35, 35, 38, 39) *22

Nothing out of the ordinary this week. Marginal gains and losses in the usual areas as we start the second wave of the Spring market. Still a bit off the mark from last year and the inventory totals are still much higher creating the buyers market feel. I still meet people daily that are shocked when I tell them the facts about the current state of our market here and after a short discussion start asking the best approach for such a challenge. There are many approaches that one can take to buy or sell a property, but the best one is an educated one. Know the facts about the area you want to live in(or do), exhaust all resale information you can get! Are listings moving in that area? will it be good for resale? Whats the current state of the property and what will I need to do to it to make it more marketable and bring it up to snuff? Motivation can be a key factor in any purchase/sale and that coupled with the questions above should get you started on the right path. Advice, its a another tool to ensure success. Advice from mortgage specialists, market analysts, inspectors, real estate professionals etc. Don't be afraid to get a few opinions to help out on the tough road ahead. Anyone can come to your home (or visit one with you) and showcase the highlights and the obvious, but in todays market an honest opinion and educated objectification will save you not only time, but thousands of dollars. Thanks for stopping by and don't miss the May monthly stats report on the 1st!

Are you familiar with ViewPoint Realty? How about the ViewPoint real estate map? Its a great tool for all your real estate research needs and when you are ready to buy or sell, its the competitive edge over your competition!

Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary comparative market analysis or you can Contact me to advise you on your best plan of action for your real estate transaction and get the most advanced real estate system working for you. Feel free to leave a public comment or question below. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst and friend me on Facebook :) Please note that these opinions and comments are solely mine and mine alone.


Newest blog post HERE

Halifax (HRM) Residential Market Statistic Update For Week of May 16th-23rd 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  545 (570, 606, 683, 573) *520
Sold:  160 (176, 172, 166, 153) *192
Sale To List Ratio: 29% (31%, 28%, 24%, 26%) *37%
Expired/Cancelled/Withdrawn:  79  (106, 97, 125, 91) *104
Total Active Halifax/Dartmouth Inventory:  5,419 (5,369, 5,213, 5,084, 4,933)
Active Single Family Home: 3647 (3608, 3505, 3423, 3287) *2964
Average Single Family Home List Price:  $303,352 ($303,040, $296,250, $293,869, $319,827) *292k
Average Single Family Home Selling Price:  $296,297 ($295,780, $288,403,$286,471, $311,439) *286k
Average Days On  Market Single Family Home: 97 (85, 80, 74, 90) *76
Active Condos:  423  (418, 404, 384, 371) *256
Average Condo Listing Price:  $236,769 ($211,677, $263,420, $293,533, $288,341) *284k
Average Condo Selling Price:  $233,352 ($204,671, $258,366, $285,818, $280,358) *280k
Average Days On Market Condos:  63 (48, 44, 72, 120) *123
Halifax/Dartmouth Absorption Rate (weeks):  35 (35, 38, 39, 40) *25.5

New listings are down this week (25 more units then last year this time last year) but managed to bloat the ever increasing inventory to its highest count this year. Sales slowed down this week, and well off the pace of last year, and was reflected by the reduced sales to list ratio. Much more selection out there then last year! There is 683 more single family homes to choose from and 167 more condos. The increased inventory and competition, coupled with slumping sales should cause the listing and selling prices of these products to decrease but its quite the contrary. Average listing price is yet again above the 300k mark this week which is quite surprising given sales are not increasing. The indicator that says the averages are overpriced is the days on market stat. Both single family homes and condos increased over a week and if you compare the listing/selling prices in brackets (previous weeks) to the days on market for their coinciding week, you may notice a pattern. The lower the price, the lower the days on market. Thanks for stopping by!

Are you familiar with ViewPoint Realty? How about the ViewPoint real estate map? Its a great tool for all your real estate research needs and when you are ready to buy or sell, its the competitive edge over your competition!

Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary comparative market analysis or you can Contact me to advise you on your best plan of action for your real estate transaction and get the most advanced real estate system working for you. Feel free to leave a public comment or question below. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst and friend me on Facebook :) Please note that these opinions and comments are solely mine and mine alone.


Newest blog post HERE

Halifax (HRM) Residential Market Statistic Update For Week of May 9th-16th 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  570 (606, 683, 573, 616) *563
Sold:  176 (172, 166, 153, 109) *199
Sale To List Ratio: 31% (28%, 24%, 26%, 18%) *35%
Expired/Cancelled/Withdrawn:  106  (97, 125, 91, 83) *65
Total Active Halifax/Dartmouth Inventory:  5,369 (5,213, 5,084, 4,933, 4,791)
Active Single Family Home: 3608 (3505, 3423, 3287, 3187) *2950
Average Single Family Home List Price:  $303,040 ($296,250, $293,869, $319,827, $309,518 *296k
Average Single Family Home Selling Price:  $295,780 ($288,403,$286,471, $311,439, $301,840) *289k
Average Days On  Market Single Family Home: 85 (80, 74, 90, 80) *79
Active Condos:  418  (404, 384, 371, 353) *252
Average Condo Listing Price:  $211,677 ($263,420, $293,533, $288,341, $295,646) *254k
Average Condo Selling Price:  $204,671 ($258,366, $285,818, $280,358, $288,946) *250k
Average Days On Market Condos:  48 (44, 72, 120, 107) 84
Halifax/Dartmouth Absorption Rate (weeks):  35 (38, 39, 40, 40)

Another positive market performance this week! The numbers to note this week are the sales to list ratio, which is the highest it has been this year so far, and the absorption rate. Reducing by three weeks, the absorption  rate is also a number that is at its best right now, and by best I mean lowest. Those two stats are good indicators of things to come in the near future, keeping in mind that they are based on inventory transactions of the past. I was thinking of a way to track a more tangible means to get a better focus on narrowing down the offer process to reflect a more current timetable. The first thing that usually happens (within 48hrs anyways) is that real estate agents change the status of a listing to "conditional/pending" once an offer has been accepted. I could add this statistic to the Blog if I had enough feedback saying that it would be welcomed. The positive being the ability to see how many people are out there making offers each week so it could be a gauge or tool to track buyers activity, the negative being that its still not a perfect indicator due to the fact that a percentage of accepted offers fall flat due to a condition(s) not being met and offers can go days before being agreed upon or entered into the system. I'll put it out there though and see what my loyal readers think. Heres the stat from the week;

April was an interesting real estate month. Seems to be getting harder to predict the market trend from month to month lately. For the second time this year the average sale price of Halifax homes dipped below previous years values. May be an indicator of the continuing correction.

Well, we expected a jump in the inventory for this time of year but April numbers blasted off! From third highest inventory reported in over a decade to second spot, this months skyward inventory climb is on pace to take top dog!

Another thing we finally experienced in April was a sales rebound. Not a great start to the year, especially last month, but April caught up to the rear of the pack with a good sales performance. Hopefully this momentum carries on!



Lots of good activity starting to buzz around town. House hunting trips are in full swing for military and other relocation folks, good attendance reports at open houses and general inquires are up %100 (feels like it anyways). Still quite a few overpriced units on the market right now so if you have been trying to sell for a while now (over 8 weeks) and your viewings are becoming less frequent, it may be time to re-evaluate the market situation. How are neighbours reacting to the market correction? Am I the most expensive home on the block/neighbourhood? Is my marketing effective? How does my house present...maybe I should consider staging. I have seen many listings this week that are not getting the proper advice on which direction to go with a market that changes weekly. And as the prime season begins you may just find yourself beat out by the 5,060 other listings currently for sale. Not having a plan for the long term is a recipe for disappointment, stress and ultimately a stale listing. Thanks for stopping by!

Are you familiar with ViewPoint Realty? How about the ViewPoint real estate map? Its a great tool for all your real estate research needs and when you are ready to buy or sell, its the competitive edge over your competition!

Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary comparative market analysis or you can Contact me to advise you on your best plan of action for your real estate transaction and get the most advanced real estate system working for you. Feel free to leave a public comment or question below. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst and friend me on Facebook :) Please note that these opinions and comments are solely mine and mine alone.


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Halifax (HRM) Residential Market Statistic Update For Week of May 2nd to May 9th 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  606 (683, 573, 616, 490) *632
Sold:  172 (166, 153, 109, 133) *202
Sale To List Ratio: 28% (24%, 26%, 18%, 27%) *32%
Expired/Cancelled/Withdrawn:  97  (125, 91, 83, 104) *69
Total Active Halifax/Dartmouth Inventory:  5,213 (5,084, 4,933, 4,791, 4,594)
Active Single Family Home: 3505 (3423, 3287, 3187, 3037) *2897
Average Single Family Home List Price:  $296,250 ($293,869, $319,827, $309,518, $292,520) *293k
Average Single Family Home Selling Price:  $288,403 ($286,471, $311,439, $301,840, $287,003) *289k
Average Days On  Market Single Family Home: 80 (74, 90, 80, 93) *60
Active Condos:  404  (384, 371, 353, 337) *240
Average Condo Listing Price:  $263,420 ($293,533, $288,341, $295,646, $292,810) *256k
Average Condo Selling Price:  $258,366 ($285,818, $280,358, $288,946, $280,665) *250k
Average Days On Market Condos:  44 (72, 120, 107, 191) 48
Halifax/Dartmouth Absorption Rate (weeks):  38 (39, 40, 40, 112)

Hold on sellers, there may be hope yet! For the third consecutive week we have seen a balance come over the market and some inventory finally start to move. Some areas of the city are lighting up with renewed activity and certain mid price point homes (300K-450k) are being hunted. Areas of Beaverbank, Sackville, Hammonds Plains and Fall River are really starting to attract attention by home shoppers and more activity is expected this month with the Military Relocation Program starting its posting season. Another product that is being sought after are investments. From house flippers to multi-residential, and even land developers have increased their push to grab a piece of the Halifax pie. Looks like the warm weather did make its impact on things around here, just have to wait to see how long it lasts. 

Halifax (HRM) Residential Market Statistic Update For Week of April 25th to May 2nd 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  683 (573, 616, 490, 446) *468
Sold:  166 (153, 109, 133, 144) *172
Sale To List Ratio: 24% (26%, 18%, 27%, 32%) *37%
Expired/Cancelled/Withdrawn:  125  (91, 83, 104, 165) *187
Total Active Halifax/Dartmouth Inventory:  5,084 (4,933, 4,791, 4,594, 4,542)
Active Single Family Home: 3423 (3287, 3187, 3037, 2992) *2823
Average Single Family Home List Price:  $293,869 ($319,827, $309,518, $292,520, $279,147) *294k
Average Single Family Home Selling Price:  $286,471 ($311,439, $301,840, $287,003, $274,793) *289k
Average Days On  Market Single Family Home: 74 (90, 80, 93, 92) *67
Active Condos:  384  (371, 353, 337, 336) *226
Average Condo Listing Price:  $293,533 ($288,341, $295,646, $292,810, $273,775) *246k
Average Condo Selling Price:  $285,818 ($280,358, $288,946, $280,665, $265,452) *243k
Average Days On Market Condos:  72 (120, 107, 191, 70) 48
Halifax/Dartmouth Absorption Rate (weeks):  39 (40, 40, 112, 42, 46)

Warm weather brought a couple things this week, a bunch of new listings and an inflation to the inventory. Not the direction I was hoping for this week as some of the important stats ebbed away from the promising start of the month but here we are. Pretty average week and not too much fluctuating from the past few weeks but we are starting to see the new listing addition bloat the overall picture which is pretty typical for this time of year. Values remain solid and days on market remain low which is a positive factor for those considering their window of opportunity to sell. Not to mention the posting season is right around the corner so fairly priced homes in certain areas will go quite quickly. But thats the case in Halifax without the outside factors, we have seen a pretty large market increase from last years announcement and we are still experiencing the market correction. So if you in the market to sell your home, have a good look at the sales performance over the past few years and smartly decide which way you want to market your property. Thanks for stopping by!

Are you familiar with ViewPoint Realty? How about the ViewPoint real estate map? Its a great tool for all your real estate research needs and when you are ready to buy or sell, its the competitive edge over your competition!

Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary comparative market analysis or you can Contact me to advise you on your best plan of action for your real estate transaction and get the most advanced real estate system working for you. Feel free to leave a public comment or question below. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst and friend me on Facebook :) Please note that these opinions and comments are solely mine and mine alone.


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