Halifax (HRM) Residential Market Statistic Update For Week of May 22nd - May 29th 2014
(Previous weeks numbers in brackets)
*Last year this week

New Listings: 542 (592, 553, 649, 542) *530
Sold: 172 (133, 143, 147, 157) *176
Sale To Listing Ratio: 32% (22%, 26%, 23%, 29%) *33%
Listings that went conditional/pending: 176 (158, 158, 170, 160) 
Expired/Cancelled/Withdrawn:  82 (79, 93, 124, 245) *86
Total Active Halifax/Dartmouth Inventory:  5,563 (5,483, 5,303, 5,187, 5,002) *5,484
Active Single Family Home: 3,761 (3,703, 3,624, 3,551, 3,424) *3,675
Average Single Family Home List Price:  $314,449 ($299,131, $323,895, $311,592, $279,885) *304k
Average Single Family Home Selling Price:   $303,919 ($289,648, $313,500, $300,759, $271,365) *298k
Average Days On  Market Single Family Home: 122 (96, 103, 100, 89) *89
Active Condos:  554 (553, 535, 516, 487) *439
Average Condo Listing Price:  $240,353 ($254,175, $266,094, $244,431, $257,451) *242k
Average Condo Selling Price:  $243,386 ($243,612, $259,006, $237,388, $251,662) *234k
Average Days On Market Condos:  117 (90, 104, 118, 117) *57Active Vacant Lots: 928
Halifax/Dartmouth Absorption Rate (weeks):  137 (134, 132, 128, 125) *22

MARKET RANT
Some improvements this week, but not enough to reverse the tide. Inventory gains in all products this week as we approach the peak inflation of the year, and although we had improvement in sales this week, it will take a lot more scaling to climb that mountain. Values still remain high however, which may be causing concern for buyers who have been patiently waiting for a market correction that has yet to come. I was asked by one of my readers to comment on the reason I thought there has not been a price correction over the entire market, and I will take a stab with my opinion. 

Working with, and applying for seller's services as often as I do, I am on the front lines if the personal contact, and heartbeat of the situation. As I've stated many times over, sellers nowadays are savvier than ever, in most area's that is. Because of great websites like ViewPoint.ca, buyers and sellers are both fully aware of what is being sold, how much it sold for, and how long it took to sell (amongst many, many more things the site provides). The thing is that numbers are just that, numbers. Cold, exact, truthful, numbers. Buyers want to use the numbers to their advantage to get a deal on the property they are after, and sellers want to ignore the numbers as prices reduce and value depletes. I feel that a key factor is sellers going after that "large profit margin", that all the TV shows tell you about. Established is the fact that if you bought your home here in HRM 3 years ago, did nothing to it, that you would probably be taking a loss (anyone different please contact me) if you sold this year. But many sellers in the market are in that situation and cannot come to terms with that idea, or cannot afford to accommodate the loss. The second part to that is the sellers with equity. Although they have lived in their property for 7+ years and do have some equity built up, looking around at what their neighbours are listed for  (not sold for) automatically has would be sellers rubbing their hands together in anticipation of out listing the challenger. The "that home is nice, but mine has a better layout, so I think we should list it at $X more" mentality kicks in. 

I do think the human factor is playing a role, but I also think the type of product selling is also a factor. The question is, without a change in the market for the better, where do you, as a seller, draw the line if you have to sell?

NOTABLE NEWS
A perfect storm on the horizon? With the ship building contract long forgotten as the rally cry of the market, a new market savior may start hitting your social media feeds, and could certainly inject some life into our dead market if it comes to fruition. This article  boasts about the investment that China is prepared to do in our province, a $3-billion dollar investment. A Shanghai-based company says it is planning to invest up to $3-billion in Nova Scotia in real estate, technology and tourism over the next decade, hoping to compete with Canada’s West Coast as a tourist centre for Chinese visitors. Think it's enough to get the ball rolling?

Are these guys reading the blog? RBC is reporting, what I have been for a while now with regards to out market. But I guess it's nice to hear it from the big guys sometimes, even though I wish it was a different story. If you like this blog, or think I'm exaggerating things, please read this article.

Few good articles here. These articles have more stats to back up another factor aiding in the demise of our market, the exodus factor. The chart, from the newly released 2014 Halifax Index, shows a sliver of the problem facing many mid-size cities in Canada — the exodus of young and working-age people. The Halifax Index, produced annually for Nova Scotia’s capital, benchmarks the city against five peer cities on a number of important measurements: population growth, education levels, the confidence of the business sector, and more. Check them out!

WEEKLY ADOGTABLE
Bliss is a 5 year old retriever pit bull mix who loves everyone! He especially loves other dogs - he is being fostered at a local doggy day care so he is getting to play all day long with other dogs and he is loving it - so if you are looking for a dog who you want to be able to take to places where there are other dogs or you are looking for a companion for your dog friendly dog - Bliss is your dog! He wants to make up for his last 5 years that he's lived in solitary confinement - he did have a kind neighbour who took him on walks - so he is good on leash and used to getting out and about so he really is a very good dog!

This "Flashy Fella" is available through No Chains All Love Rescue Society, a non profit rescue organization from Halifax, Nova Scotia. More info about him, other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE.

VIEWPOINT REALTY
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty, 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! Not to mention it's now more rewarding then ever to become a ViewPoint Client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping!


LET ME HELP YOU OUT
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 and Google+ :) Please note that these opinions and comments are solely mine and mine alone. Thanks for stopping by!

Newest Blog post HERE

Inventory levels shot up in April, but didn't break any records or shatter ceilings, which is good. Slightly behind last years inventory count and 200 behind the current April inventory leader, 2009. Out of the properties on the market, out would like to know the stale to fresh ratio.

Remarkably, average sales price made an aggressive comeback in April. Would have been nice to see what impact, if any, sales prices remained down for a few months. I have a feeling that the other two reports would be noticeably impacted by the change.

Wish there was something more positive to report with regards to this statistic, but the truth of the matter is that things looked  pretty grim for the month of April. A Record breaking sales slump, and 332 less then the current leader, 2009, the void of active buyers is really starting to take its toll on the city. Competition to sell runs rampant, with agents and marketers alike clambering to get that edge over the ocean of comparable listings. We know the three biggest words that sell real estate are "location, location, location", but rumblings and whispers are starting to chant a different slogan..."price, price, price!". Regardless of location right now, buyers are afforded the opportunity (for the most part) to view all of the listings on their list, revisit as many times as they want, then leisurely make an offer, most times, below the belt. If price is not a factor, then clearly we have a problem with the ebb and flow of people moving too and from our city. According to some articles that I will post tomorrow, that is a very realistic happening aiding in our resulting trend. 

VIEWPOINT REALTY
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty, 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! Not to mention it's now more rewarding then ever to become a ViewPoint Client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping!


LET ME HELP YOU OUT
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 and Google+ :) Please note that these opinions and comments are solely mine and mine alone. Thanks for stopping by!



Newest Blog post HERE

Halifax (HRM) Residential Market Statistic Update For Week of May 15th - May 22nd 2014
(Previous weeks numbers in brackets)
*Last year this week

New Listings: 592 (553, 649, 542, 466) *545
Sold: 133 (143, 147, 157, 127) *160
Sale To List Ratio: 22% (26%, 23%, 29%, 27%) *29%
Listings that went conditional/pending: 159 (158, 170, 160, 139) 
Expired/Cancelled/Withdrawn:  79 (93, 124, 245, 59) *79
Total Active Halifax/Dartmouth Inventory:  5,483 (5,303, 5,187, 5,002, 5,040) *5,419
Active Single Family Home: 3,703 (3,624, 3,551, 3,424, 3,399) *3,647
Average Single Family Home List Price:  $299,131 ($323,895, $311,592, $279,885, $289,440) *303k
Average Single Family Home Selling Price:  $389,648 ($313,500, $300,759, $271,365, $280,883) *296k
Average Days On  Market Single Family Home: 96 (103, 100, 89, 114) *97
Active Condos:  553 (535, 516, 487, 502) *423
Average Condo Listing Price:  $254,175 ($266,094, $244,431, $257,451, $263,477) *236k
Average Condo Selling Price:  $243,612 ($259,006, $237,388, $251,662, $255,762) *233k
Average Days On Market Condos:  90 (104, 118, 117, 126) *63
Halifax/Dartmouth Absorption Rate (weeks):  134 (132, 128, 125, 116) *35

MARKET RANT
One can't help but look at that absorption rate and shudder. One hundred and one additional weeks to sell off the current inventory at this sales rate, compared to last year. Listings keep pouring onto the market in hopes of selling, but the fact is that we have in between 1/4 and 1/3 the sales each week in comparison to inventory additions. Inventory is up in all areas this week, and are reporting higher than our record breaking last year. Values remain high however, but is balanced by the two products that seem to have traction in this market, first time buyers ($200k-290k), and second home/executive homes (400k+). It would appear that there is a lot of products that are being looked over at the 300k range, and here's a possibility why. We know that entry level homes are doing better than the rest, and this is a natural market progression from renting to home ownership. In this market, coupled with the new shackles of lending, leaves the first time homebuyer trained to staying within budget, and focused on value. Unfortunately, because of new lending constraints, and the instability of out market, many are opting to stay put in rentals and "wait the storm out" so to speak. Where it causes the problem is what we call the "cascade effect". Gun-shy first timers don't invest into the market, homeowners ready to make the upgrade their next home two are stuck waiting, and everyone takes their foot off the next rung of the property ladder. 

NOTABLE NEWS
The tax man commeth! Seeing what this really is, and I'm sure you can draw your own conclusions, this article outlines the necessity to "axe the tax cap" on property taxes. Arguments from both camps could be made here, and ultimately, when you blurt things like "Lifting the property assessment cap just allows politicians to have an undefended take of taxpayers wallets", you can only assume that this, much like the "ditch tax", could be a "reach deeper into pockets of the taxpayer" campaign.

Seems as though CMHC is getting wise to what my readers already know, housing starts and sales are slowing in Atlantic Canada. Much of this article has roots in the hub of the maritimes, Halifax, but no areas have been unaffected by the nasty downward trend. The article projects a measly 1% increase per year for re-sale homes, but I'm not sure if they are taking into account that prices need to come down before they go back up...

I was passed this article from a great client of mine this week, and I thought I would share it given it's overall acknowledgement of the national impact of things to come, and being sited as one of the cities that is being affected. Take a peruse of this article to see what some are estimating is our future.

WEEKLY ADOGTABLE
Tassy is a very friendly girl and currently lives with 2 cats and get's along with dogs as well. Tassy is around 2 years old and we are accepting applications now.

This "lovely lassie" is available through Nova Scotia Pit Bull Rescue Society, a non profit rescue organization from Halifax, Nova Scotia. More info about him, other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE.

VIEWPOINT REALTY
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty, 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! Not to mention it's now more rewarding then ever to become a ViewPoint Client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping!

LET ME HELP YOU OUT
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 and Google+ :) Please note that these opinions and comments are solely mine and mine alone. Thanks for stopping by!



Newest Blog post HERE

Halifax (HRM) Residential Market Statistic Update For Week of May 8th - May 15th 2014
(Previous weeks numbers in brackets)
*Last year this week

New Listings: 553 (649, 542, 466, 563) *570
Sold: 143 (147, 157, 127, 152) *176
Sale To List Ratio: 26% (23%, 29%, 27%, 25%) *31%
Listings that went conditional/pending: 158 (170, 160, 139, 133) *173
Expired/Cancelled/Withdrawn:  93 (124, 245, 59, 106) *106
Total Active Halifax/Dartmouth Inventory:  5,303 (5,187, 5,002, 5,040, 4,941) *5,369
Active Single Family Home: 3,624 (3,551, 3,424, 3,399, 3.307) *3,608
Average Single Family Home List Price:  $323,895 ($311,592, $279,885, $289,440, $287,264) *303k
Average Single Family Home Selling Price:  $313,500 ($300,759, $271,365, $280,883, $278,062) *296k
Average Days On  Market Single Family Home: 103 (100, 89, 114, 97) *85
Active Condos:  535 (516, 487, 502, 497) *418
Average Condo Listing Price:  $266,094 1($244,431, $257,451, $263,477, $269,868) *212k
Average Condo Selling Price:  $259,006 ($237,388, $251,662, $255,762, $260,267) *205k
Average Days On Market Condos:  104 (118, 117, 126, 97) *48
Halifax/Dartmouth Absorption Rate (weeks):  132 (128, 125, 116, 107) *35

MARKET RANT
Happy anniversary! I could swear that I just implemented the conditional/pending statistic a few months ago, but here we are, one year later! So, If you remember when I first stuck that statistic up on the blog, you have been following my take on the market for over a year now! Time fly's doesn't it? New listings weren't as severe as last week but still had a healthy showing, which helped the sales to list ratio climb, even though the sales where down. Gains in all area of the inventory occurred this week, which added on another 4 weeks of duration to the absorption rate. Resale values hit a benchmark. For the first time in reporting history, single family homes sales average was 313k, besting the last record of 307k. There may have been a few higher priced homes that have skewed that statistic this week, and by no means should that be taken over the median home price. It would seem that the conditional stat is working out though. A few positive comments, and no one prompting me to get rid of it, tells me that it's here to stay. The two great things that it does is give a closer look at market activity in relation to sales, and show just how many agreements go south per week. 

NOTABLE NEWS
The Cogswell Interchange, a sprawling concrete blight on the northern edge of downtown Halifax, is one step closer to being torn down and replaced with a mixed-use development says THIS article. On Monday, the municipality’s executive standing committee endorsed the design for the new Cogswell District, which goes to regional council for approval next.

This little gem ominously titled "House Sellers Beware"  was released earlier this week by CH. I wanted to post this one because it's been clogging my social media feeds for days by people, who I think, are promoting it the wrong way, and I wanted to see what my loyal readers thought. Every time I see it, it has some sort of message attached to it like "see, you get what you pay for", or some smart remark. I understand that some people like scare tactics with their marketing, as in, "unless you use a professional, you are headed for disaster" lament, but everyone has different reasons for trying things on their own, and should't be given the "I told you so" lecture for their attempt. Many people take on the role of their own professional and are successful because they have the experience and know who to approach to source answers, while others try, but exceed their capabilities or experience and seek professional help to get the task done. And others know the value of professionals, and do not hesitate to seek out, and hire the right person to get the job done. Not all services match the needs of all people, and we are in a time that services need to bend around the needs of people to make it a viable option. Just my thoughts... 

WEEKLY ADOGTABLE
Georgie is between 12-14 months old and a pit mix , he is very loving and dog friendly , he will soon be neutered and microchipped and looking for his new home with his best friend Leroy the Chi , Leroy is around 3 years old and also dog friendly , these 2 love each other and do everything together , if you can open your home and heart to 2 adorable boys then look no further

This "delightful duo" is available through Nova Scotia Pit Bull Rescue Society, a non profit rescue organization from Halifax, Nova Scotia. More info about him, other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE.

VIEWPOINT REALTY
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty, 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! Not to mention it's now more rewarding then ever to become a ViewPoint Client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping!

LET ME HELP YOU OUT
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 and Google+ :) Please note that these opinions and comments are solely mine and mine alone. Thanks for stopping by!



Newest Blog post HERE

Situated on a large quiet lot in desirable Hammonds Plains, this stunning Carlton built two story home is a `must see`. Greeted by executive finishes upon entry, this beautifully designed home boasts gleaming hardwood floors, an upgraded trim and finish package, cozy propane fireplace, enormous chefs dream kitchen, and formal dining on the main level. Upstairs you will find two generously sized bedrooms, the grand master bedroom complete with walk-in closet and ensuite bath, and a huge bonus room that can be used as an additional family room, or bedroom. The outside features enhance this property with a sprawling backyard, huge entertaining decks, exposed aggregate driveway, and your very own above ground pool surrounded by ample decking. The walkout basement of the home is currently undeveloped, but has rough-ins in place for a bathroom, and could easily be developed to add more square footage and value. Don`t miss your opportunity to own this value priced property, call today for a personal tour!!

More information about this listing, including a HD VIDEO tour, click on the Facebook page badge in the right column, or click HERE to see it on ViewPoint.ca

Halifax (HRM) Residential Market Statistic Update For Week of May 1st - May 8th 2014
(Previous weeks numbers in brackets)
*Last year this week

New Listings: 649 (542, 466, 563, 531) *606
Sold: 147 (157, 127, 152, 107) *172
Sale To List Ratio: 23% (29%, 27%, 25%, 20%) *28%
Listings that went conditional/pending: 170 (160, 139, 133, 148)
Expired/Cancelled/Withdrawn:  124 (245, 59, 106, 80) *97
Total Active Halifax/Dartmouth Inventory:  5,187 (5,002, 5,040, 4,941, 4,820) *5,213
Active Single Family Home: 3,551 (3,424, 3,399, 3.307, 3,185) *3,505
Average Single Family Home List Price:  $311,592 ($279,885, $289,440, $287,264, $272,308) *296k
Average Single Family Home Selling Price:  $300,759 ($271,365, $280,883, $278,062, $264,936) *288k
Average Days On  Market Single Family Home: 100 (89, 114, 97, 103) *80
Active Condos:  516 (487, 502, 497, 494) *404
Average Condo Listing Price:  $244,431($257,451, $263,477, $269,868, $244,845) *263k
Average Condo Selling Price:  $237,388 ($251,662, $255,762, $260,267, $237,433) *258k
Average Days On Market Condos:  118 (117, 126, 97, 121) *44
Halifax/Dartmouth Absorption Rate (weeks):  128 (125, 116, 107, 102) *38

MARKET RANT
Lots of background activity this week. Although the total inventory level reported lower than last year, both condo and single family home inventory are beyond last years heights (condo's by a lot). The reason for the discrepancy is large in part to the products that I do not include in the weekly wrap up, like mini-home's and vacant land. Vacant land in HRM makes up the majority of the discrepancy, with 815 pieces currently being offered for sale. Huge inventory addition this week with 649 new additions, the largest addition of the year so far! Sales took a 10 unit hit, but looking at the conditional/pending stat, we should see that stat bounce back in a couple weeks. Average single family home values reported strong this week, while Condo values took a bit of a downward trajectory. And days on market for both products grew longer this week, with single family homes seeing the majority of the addition with 21 additional days to sell. There's no stopping the absorption rate it appears. Eclipsing last years measly 38 weeks, our market has now ballooned to record heights of 128 weeks to sell of everything that is currently listed. So, although the market appears to be trending the same as last year, statistics like that should be a cause for concern.

NOTABLE NEWS
Residential resale is not the only affected product. This article is an analysis from the recent release of the CMHC new housing starts in April. ""Declines in both single-detached and multi-family starts in April contributed to a slowing pace of residential construction in Halifax", said Guillaume Neault, Senior Market Analyst with CMHC's Atlantic Business Centre. "Weaker demographic and economic fundamentals contributed largely to the reduced demand for housing," added Neault."

Shannon Park in Dartmouth may look a little different over the next few years according to this article. Although it is not certain exactly what the newly sold site will be developed into, it has been sold, and at a steal! "The Department of National Defence has unloaded Shannon Park, a former military community in Dartmouth, in a three-way deal that sets aside land for a potential stadium, a Mi'kmaq land claim and a school." During the initial considerations, a residential development was also being considered.

WEEKLY ADOGTABLE
Sweet Chico (formerly Elmer) is back through no fault of his own and looking for his perfect foster or forever home. Chico is roughly 1 year old and around 50lbs. He loves loves loves to play with other dogs and would benefit from a home with another playful dog with good manners who will teach him how to settle when playtime if over. He is, so far, ok with cats, and loves children, but would do best with older children due to his roughly energetic play style. Chico will need a home where he will get lots of physical and mental exercise, as well as daily training. He is so loving, house trained, crate trained, neutered, and vaccinated. Obedience classes will be mandatory for Chico, who is adoptable through the Hants County SPCA.

This "good listener" is available through HCSPCA, a non profit rescue organization from Hants County, Nova Scotia. More info about him, other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE.

VIEWPOINT REALTY
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty, 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! Not to mention it's now more rewarding then ever to become a ViewPoint Client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping!

LET ME HELP YOU OUT
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 and Google+ :) Please note that these opinions and comments are solely mine and mine alone. Thanks for stopping by!



Newest Blog post HERE

Halifax (HRM) Residential Market Statistic Update For Week of April 24th - May 1st 2014
(Previous weeks numbers in brackets)
*Last year this week

New Listings: 542 (466, 563, 531, 553) *683
Sold: 157 (127, 152, 107, 115) *166
Sale To List Ratio: 29% (27%, 25%, 20%, 21%) *24%
Listings that went conditional/pending: 160 (139, 133, 148, 137)
Expired/Cancelled/Withdrawn:  245 (59, 106, 80, 185) *125
Total Active Halifax/Dartmouth Inventory:  5,002 (5,040, 4,941, 4,820, 4,680) *5,084
Active Single Family Home: 3,424 (3,399, 3.307, 3,185, 3,084) *3,423
Average Single Family Home List Price:  $279,885 ($289,440, $287,264, $272,308, $296,066) *294k
Average Single Family Home Selling Price:  $271,365 ($280,883, $278,062, $264,936, $286,066) *286k
Average Days On  Market Single Family Home: 89 (114, 97, 103, 100) *74
Active Condos:  487 (502, 497, 494, 472) *384
Average Condo Listing Price:  $257,451($263,477, $269,868, $244,845, $268,471) *294k
Average Condo Selling Price:  $251,662 ($255,762, $260,267, $237,433, $259,771, $230,776) *286k
Average Days On Market Condos:  117 (126, 97, 121, 92) *72
Halifax/Dartmouth Absorption Rate (weeks):  125 (116, 107, 102, 106) *39

MARKET RANT
Some strange times on the market this week. Some anomaly has caused the overall inventory to actually reduce this week. You point your finger at the expired/cancelled/withdrawn pile, as those numbers came in rather high this week. It's odd to think that so many listings have expired by this point in the year, mainly because the usual REALTOR® commitment is for three months, and some for six. Either way you slice it, that would mean commitments where signed in February or November, and it's now time to decide what to do. Questions like "should I resign and keep trying", "hire another company to see if it's not the listing agent I'm using", or "maybe I should take it off the market and wait until the market improves", all things to consider if you haven't sold by the time your contract is up. So the sales to list ratio was up this week, sales looked better then they have in a while, and we had a slight inventory reduction. We also witnessed shrinking in the average days on market and overall values for both products and higher conditional pending listings. All good signs in my opinion, if the trend can continue. The only stat that did not improve this week was the absorption rate, which added another 9 weeks to the overall duration. 

NOTABLE NEWS
Looks like the CMHC continues to tighten its grip on insuring certain Canadians with their mortgage applications. Not likely that it will affect the broad audience of applicants, but people like myself, who are self employed, will have a few more hurtles to navigate on the way to property acquisition. Full article can be found HERE

Might have a couple more twin towers in the Halifax skyline. The proposed development, a 500,000-square-foot, twin-tower development spanning the block bounded by Granville, George, Hollis and Duke streets was appealed, but rejected by regional council earlier this week. More details can be found HERE

WEEKLY ADOGTABLE
Chance is a handsome 2 year old Pitbull/Lab, weighing roughly 65lbs. Even though he may be unsure when he first meets a new dog, Chance would do best in a home with a larger, calm, friendly dog who could help him continue to grow with his socialization. Chance would really excell in a home where he will have guidance, boundries, and a strong leader. He is a very sweet boy who loves to play, cuddle, and just be a dog. No cats or chickens for Chance, and since he is still learning how to socialize, he would not do well as a dog-park dog, but a home where he will continue to get proper socialization would be ideal. Chance is neutered, vaccinated, and parasite treated. 
This spunky fella is available through Buddy's Bully Rescue, a non profit rescue organization from Halifax, Nova Scotia. More info about him, other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE.

VIEWPOINT REALTY
Are you familiar with ViewPoint Realty? How about the ViewPoint Realty, 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! Not to mention it's now more rewarding then ever to become a ViewPoint Client, just click HERE to find out more. More savings and more information, sign up today! Or, click HERE to go right to the map and get property shopping!

LET ME HELP YOU OUT
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 and Google+ :) Please note that these opinions and comments are solely mine and mine alone. Thanks for stopping by!


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