Halifax (HRM) Residential Market Statistic Update For Week of August 23rd to August 30th 2012
(Previous weeks numbers in brackets)

New Listings:  388 (425, 464, 436, 459)
Sold:  146 (130, 139, 120, 126)
Sale to List Ratio: 38% (31%, 30%, 28%, 28%)
Expired/Cancelled/Withdrawn:  81 (101, 110, 105, 206)
Active Single Family Home: 3033 (3013, 3002, 2981, 2958)
Average Single Family Home List Price:  $301,968 ($307,707, $282,947, $289,389, $298,974)
Average Single Family Home Selling Price:  $291,807 ($299,275, $274,227, $282,448, $292,142)
Average Days on  Market Single Family Home: 81 (96, 90, 76, 94)
Active Condos:  277 (275, 263, 265, 260)
Average Condo Listing Price:  $276,345  ($280,973, $270,952, $267,268, $240,071)
Average Condo Selling Price: $274,776 ($273,296, $265,170, $259,100, $232,169)
Average Days on Market Condos:  309 (126, 142, 50, 49)
*Halifax/Dartmouth Absorption Rate (weeks):  37 (38.8, 35.8, 31.5, 28.1)

Here it comes, are you ready? The secret time to sell your home is just around the corner and the stats this week may be a small indication of things to come. New listing additions are slightly down however, sold listings improved  this week which spiked the sales to list ratio by 7 points. Not a bad comeback. Average SFH and Condo values remain stronger than ever with SFH price coming in over the 300k mark for the second week in a row for the first time this year. Lots of buzz and busyness this week, which I can personally attest too, from out of town clients digging for more information on the Halifax Residential and Multi-Residential market (which you can find here)  and looking for their chance to get in on the market. I still think the best is yet to come this year with the fall market quickly approaching and general market attitude improving. Whats your thoughts? Make sure to come back on September 1st for the August monthly residential wrap up and check in frequently to catch all the latest and greatest housing information and news. Thanks for stopping by! 

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 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 :)


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Halifax (HRM) Residential Market Statistic Update For Week of August 16th to August 23rd 2012
(Previous weeks numbers in brackets)

New Listings:  425 (464, 436, 459, 434)
Sold:  130 (139, 20, 126, 162)
Sale to List Ratio: 31% (30%, 28%, 28%, 37%)
Expired/Cancelled/Withdrawn:  101 (110, 105, 206, 70)
Active Single Family Home: 3013 (3002, 2981, 2958, 2979)
Average Single Family Home List Price:  $307,707 ($282,947, $289,389, $298,974, $277,209)
Average Single Family Home Selling Price:  $299,275 ($274,227, $282,448, $292,142, $271,132)
Average Days on  Market Single Family Home: 96 (90, 76, 94, 93)
Active Condos:  275 (263, 265, 260, 260)
Average Condo Listing Price:  $280,937  ($270,952, $267,268, $240,071, $198,147)
Average Condo Selling Price: $273,296 ($265,170, $259,100, $232,169, $192,370)
Average Days on Market Condos:  126 (142, 50, 49, 50)

Halifax (HRM) Residential Market Statistic Update For Week of August 9th to August 16th 2012
(Previous weeks numbers in brackets)

New Listings:  464 (436, 459, 434, 441)
Sold:  139 (120, 126, 162, 209)
Sale to List Ratio: 30% (28%, 28%, 37%, 47%)
Expired/Cancelled/Withdrawn:  110 (105, 206, 70, 191)
Active Single Family Home: 3002 (2981, 2958, 2979, 2931)
Average Single Family Home List Price:  $282,947 ($289,389, $298,974, $277,209, $288,808)
Average Single Family Home Selling Price:  $274,227 ($282,448, $292,142, $271,132, $281,603)
Average Days on  Market Single Family Home: 90 (76, 94, 93, 81)
Active Condos:  263 (265, 260, 260, 259)
Average Condo Listing Price:  $270,952  ($267,268, $240,071, $198,147, $222,643)
Average Condo Selling Price: $265,170 ($259,100, $232,169, $192,370, $216,906)
Average Days on Market Condos:  142 (50, 49, 50, 37)
*Halifax/Dartmouth Absorption Rate (weeks):  35.8 (31.5, 28.1, 27.1, 25.8)

Another "so so" week on the market as the absorption rate climbs another four days, sales remain mediocre and inventory climbs over 3000 for the first week of the year. Another point to note this week is the fact that average condo DOM has almost tripled itself  and accumulated one of the longest times all year long! On a positive note, sales this week did actually improve and was the cause for a two point gain on the sales to list ratio. All in all a fairly typical week on the Halifax real estate market with a slow and healthy ebb and flow of listings and sales. Predictions on the fall market? I'd love to hear what you think about the upcoming season. Thanks for stopping by and be sure to check back frequently to keep up to date on all things Halifax real estate!

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 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


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Halifax (HRM) Residential Market Statistic Update For Week of August 2nd to August 9th 2012
(Previous weeks numbers in brackets)

New Listings:  436 (459, 434, 441, 508)
Sold:  120 (126, 162, 209, 185)
Sale to List Ratio: 28% (28%, 37%, 47%, 36%)
Expired/Cancelled/Withdrawn:  105 (206, 70, 191, 82)
Active Single Family Home: 2981 (2958, 2979, 2931, 2959)
Average Single Family Home List Price:  $289,389 ($298,974, $277,209, $288,808, $308,187)
Average Single Family Home Selling Price:  $282,448  ($292,142, $271,132, $281,603, $299,219)
Average Days on  Market Single Family Home: 76 (94, 93, 81, 72)
Active Condos:  265 (260, 260, 259, 276)
Average Condo Listing Price:  $267,268  ($240,071, $198,147, $222,643, $230,070)
Average Condo Selling Price: $259,100 ($232,169, $192,370, $216,906, $224,458)
Average Days on Market Condos:  50 (49, 50, 37, 64)
*Halifax/Dartmouth Absorption Rate (weeks):  31.5 (28.1, 27.1, 25.8, 26.2)

This week is the first time since I have been actively tracking the absorption rate that it hit over 30 weeks. Looks like the down swing to the end of summer continues... 

Canada Mortgage and Housing Corporation 

August 09, 2012 08:15 ET

"HALIFAX, NOVA SCOTIA--(Marketwire - Aug. 9, 2012) - New residential construction in Halifax decreased last month compared to July 2011, according to preliminary data1 released today by Canada Mortgage and Housing Corporation (CMHC). There were 150 housing starts recorded in July compared to 378 last year.
"New home construction activity in Halifax was supported by an increase in single-detached starts last month," said Tim Andrews, market analyst with CMHC's Atlantic Business Centre. "Singles starts increased for the fourth consecutive month, climbing ten per cent in July to 107 units," added Andrews. "Multiple starts at 43 units, were substantially lower in July 2012 compared to the 281 units recorded a year ago."
In urban centres across Canada, total housing starts recorded in July were down two per cent to 16,876 units compared to 17,230 a year ago. Single-detached starts decreased eight per cent to 6,315 units, while multiple starts increased two per cent to 10,561 units in July. In the Atlantic region, 890 new units were started compared to 1,409 during July 2011.
As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.
For more information, visit www.cmhc.ca or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at CMHC Housing Market Information."


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 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


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Halifax (HRM) Residential Market Statistic Update For Week of July 26th to August 2nd 2012
(Previous weeks numbers in brackets)

New Listings:  459 (434, 441, 508, 460)
Sold:  126 (162, 209, 185, 161)
Sale to List Ratio: 28% (37%, 47%, 36%, 35%)
Expired/Cancelled/Withdrawn:  206 (70, 191, 82, 224)
Active Single Family Home: 2958 (2979, 2931, 2959, 2938)
Average Single Family Home List Price:  $298,974 ($277,209, $288,808, $308,187, $298,840)
Average Single Family Home Selling Price:  $292,142  ($271,132, $281,603, $299,219, $287,605)
Average Days on  Market Single Family Home: 94 (93, 81, 72, 84)
Active Condos:  260 (260, 259, 276, 272)
Average Condo Listing Price:  $240,071  ($198,147, $222,643, $230,070, $291,935)
Average Condo Selling Price: $232,169 ($192,370, $216,906, $224,458, $279,786)
Average Days on Market Condos:  49 (50, 37, 64, 50)
*Halifax/Dartmouth Absorption Rate (weeks):  28.1 (27.1, 25.8, 26.2, 25.6)

So as we hit the end month/beginning month expire/renew cycle, things stay relatively the same. With lower sales this week its strange how the inventory declined in numbers. I would point the finger at the expired listings for that, listings that came off the market and never renewed. We did see single family home values rise back to the usual average for the year however and their days on market average remains under the 100 day mark which is positive. Condo's remain a hot commodity around Halifax with unwavering values and "days on market" stats but still not a lot of inventory to choose from. We gain a full week on the Halifax absorption rate which bring the grand tally to almost three extra weeks increased from two weeks ago. Things are slowing for the end of the summer but you will have to come back to see what happens when school gets back in...Be sure to scroll down to check the overall market performance for July in both the residential market and the multi-residential market.
 
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 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


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Residential inventory increased this month placing it  second overall lowest for the second consecutive month. Sales are yet to keep down the swelling number of properties hitting the market as we witness the highest overall accumulation for the year thus far.

This month also followed a worrisome trend on the market, falling property values. For the second consecutive month Halifax sale prices took a nose dive to narrowly keep the overall sales value. 

Still performing at its sub-par rate, sales this month took a nose dive to follow annual trend. There was a rebound of interest near the end of the month which contributed to its placement which I believe is in direct correlation to the confirmation of the first ship building contract.


It looked as though July would be a sleeper up until around mid month. Activity and interest could be witnessed throughout the industry with a surge of buyer interest, especially from the west coast. Stately and executive homes have seen a lot of renewed traction near the end of month as numbers of oceanfront estate homes  around the HRM disappear from the market. It appears we may have seen a few areas of the "first time/entry level" market cool with the some previously "hot" areas seeing inventory climb and not disappear. Smart marketing, new innovations and market knowledge are the way to stay ahead in times when the market seems to be changing on a day to day basis. Good thing you can find them all here! Looking for monthly Halifax multi-residential reports? look no farther, simply scroll down.

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 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


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