Halifax (HRM) Residential Market Statistic Update For Week of August 22nd to August 29th 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  382 (365, 460, 431, 441) *388
Sold:  145  (135, 125, 124, 148) *146
Sale To List Ratio: 38% (37%, 27%, 29%, 34%) *38%
Expired/Cancelled/Withdrawn:  136 (123, 126, 118, 294) *81
Total Active Halifax/Dartmouth Inventory:  5,478  (5,520, 5,544, 5,507, 5,486)
Active Single Family Home: 3,594 (3,622, 3,658, 3,643, 3,643) *3,033
Average Single Family Home List Price:  $294,462 ($287,645, $296,009, $328,441, $308,613) *302k
Average Single Family Home Selling Price:  $291,877 ($280,777, $287,897, $312,078, $294,715)*292k
Average Days On  Market Single Family Home: 98 (112, 105, 106, 103) *81
Active Condos:  411  (430, 443, 443, 436) *277
Average Condo Listing Price:  $270,364 ($258,454, $262,771, $298,465, $322,600) *276k
Average Condo Selling Price:  $264,664 ($253,809, $235,532, $291,665, $310,653) *275k
Average Days On Market Condos:  104 (110, 85, 109, 75) *309
Halifax/Dartmouth Absorption Rate (weeks):  44 (44, 41, 40, 43) *37

As the supposed hottest month of the year (weather wise anyways) comes to a close, the anticipation of a summer market recovery looks more and more unlikely. The market this week looks very familiar, that's because the numbers are strikingly similar to this time last year, and we all know what happened at this time last year. For the second week in a row, new listing additions remain under the 300 mark and sales creep towards mediocre. Single family home and condo values are holding steady as well, with marginal decrease over the past few weeks it's almost as if overall price is reducing. Prices have remained in line with last years values over the past few weeks, and it will be interesting to see what impact it will have on the monthly report. 

The monthly statistics wrap up for August 2013 will be posted on the 1st of September. Thanks for stopping by!

The feature aDOGtable this week is Milo. Milo made his way from Montreal to Nova Scotia to start a new life. He is a sweet, gentle boy. Gets along great with other dogs, not a fan of cats though. Great in the car and knows basic commands in English and French! Needs a little work on the leash but all in all a great dog. He will love your furever if you make him your boy.   

He is currently being cared for by East Coast German Shepherd Rescue from Dartmouth, a non-profit rescue organization.

Details about this fella and others ready for a "furever"  home including how to adopt, other dogs for adoption and ways to donate, can be found by clicking the picture :)  Thank you for your consideration!


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 and Google+ :) 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 August 15th to August 22nd 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  365 (460, 431, 441, 459) *422
Sold:  135  (125, 124, 148, 164) *135
Sale To List Ratio: 37% (27%, 29%, 34%, 36%) *32%
Expired/Cancelled/Withdrawn:  123 (126, 118, 294, 130) *120
Total Active Halifax/Dartmouth Inventory:  5,520 (5,544, 5,507, 5,486, 5,648)
Active Single Family Home: 3,622 (3,658, 3,643, 3,643, 3,712) *2,970
Average Single Family Home List Price:  $287,645 ($296,009, $328,441, $308,613, $305,097) *288k
Average Single Family Home Selling Price:  $280,777 ($287,897, $312,078, $294,715, $295,748)*281k
Average Days On  Market Single Family Home: 112 (105, 106, 103, 99) *72
Active Condos:  430  (443, 443, 436, 445) *255
Average Condo Listing Price:  $258,454 ($262,771, $298,465, $322,600, $333,495) *267k
Average Condo Selling Price:  $253,809 ($235,532, $291,665, $310,653, $320,961, $288,279) *261k
Average Days On Market Condos:  110 (85, 109, 75, 109) *57
Halifax/Dartmouth Absorption Rate (weeks):  44 (41, 40, 43, 43) *30

Fairly average week on the market, nice little blip on the sales to list ratio screen though. Market plummet is still on the lips of many Haligonian's as Ottawa (and the banks), it seems, look to cool the hot markets across the Country by tightening lending rules and hiking interest rates. Oh yes, if you failed to read about it, the rates are on their way up shortly with plans of further hikes in the near future. And don't get me started on CMHC and their ever changing policy as a whole. What's the effect of "cooling off the hot market's" when that "theory" is applied to sagging or declining markets? Guess we are all about to find out! The challenge continues for buyers and sellers alike. Buyers still own the power in the market but are reluctant to pull the trigger on purchasing for all the above reasons, and many sellers are near their bottom line contemplate the right move to make. What if I told you that the house you have listed is currently 10% over priced and that was your bottom line? And then, what if I told you that in six months it will be 15% over priced and by this time next year 20%. Not saying that is the way things will go but you can never fully predict which direction we will take, so when would be the best time to reduce to get out? It's a cold fact that many of the houses on the market are over priced, it's also a fact that there are many fairly priced homes out there. Right now it's overwhelming to find anything of value with so much inventory on the market and buyers having to sift through it all. By the time they do, factors like days on market (why has it sat so long? whats wrong with it?) assessment value (tax assessment value is not an appraisal for all those who are not aware), comparable's and finishes. Even then, buyers are very uncertain, cautious and aggressive if they do decide to offer. Some people find opportunity in situations like this, and the only thing others see is risk. Which one are you?

The feature aDOGtable this week is Tommie. Please help! Tommie is in need of foster or forever home before the end of September. Tommie must be an only pet! 
His current owner is moving and cannot take him   He is currently being cared for by Pit Project Rescue, a non-profit rescue organization.
Details about this rescue and others (including ways to donate) can be found by clicking the picture :) 




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 and Google+ :) 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 August 8th to August 15th 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  460 (431, 441, 459, 544) *436
Sold:  125  (124, 148, 164, 153) *120
Sale To List Ratio: 27% (29%, 34%, 36%, 28%) *28%
Expired/Cancelled/Withdrawn:  126 (118, 294, 130, 117) *105
Total Active Halifax/Dartmouth Inventory:  5,544 (5,507, 5,486, 5,648, 5,648)
Active Single Family Home: 3,658 (3,643, 3,643, 3,712, 3,724) *2,981
Average Single Family Home List Price:  $296,009 ($328,441, $308,613, $305,097, $285,954) *289k
Average Single Family Home Selling Price:  $287,897 ($312,078, $294,715, $295,748, $274,839)*282k
Average Days On  Market Single Family Home: 105 (106, 103, 99, 79) *76
Active Condos:  439  (443, 436, 445, 442) *265
Average Condo Listing Price:  $262,771 ($298,465, $322,600, $333,495, $301,963) *267k
Average Condo Selling Price:  $235,532 ($291,665, $310,653, $320,961, $288,279) *259k
Average Days On Market Condos:  74 (85, 109, 75, 109) *50
Halifax/Dartmouth Absorption Rate (weeks):  43 (41, 40, 43, 43) *30

Another gain in inventory this week?? Last week I held a survey to see what you thought about the market here in Halifax and let me tell you folks, its pretty dismal out there. Everyone that participated agreed that the market is overpriced by 10%+ and the majority of the market confidence was worrisome. There was some really great points made and I'm happy that people are realizing the state of things that are happening. Don't be fooled by the song and dance that's in front of your face, rather what's lurking behind the curtain. Here are some highlights form the survey;

"I'm currently looking for my first home in Halifax. I like that the inventory is high, but I'm still surprised that so many homes are priced as high as they are. I really thought there would be some correction (given the inventory and tightening lending rules). I'm hopeful that my home is out there but I've had no luck yet. I'm not in a hurry but would like to take advantage of the low rates before they creep up (making any possible correction in prices negligible)."
Great points for many buyers out there!

"Prices are too high to buy right now. 400k+ for a North ot Quinpool; 500K+ anywhere South. Most families in Halifax with the minimum 5% down do not have the income to afford payments on mortgages this size, Many sellers are dreaming if they expect to get their asking price, but I am sure prices will stay stubbornly high as most do not want to face reality."
Frustration of buyers are being felt everywhere!

"First time home buyers have been priced out of the market. Unfortunately, without the first time buyers, the move-up buyers are lost. 
Buying into this market now will likely cause long term financial hardship for some. Prices at these levels cannot be sustained long term.
Bloated inventory a lagging sales will continue to be seen until serious price reductions begin - and even then - people will be waiting for the bottom. 
This has been the story globally - look at the USA - we are in the same situation - just late to the party.
Great insight and comments. 

Sell and get out of the market.
- House prices to income ratios are way too high to sustain the current cost of houses.
- The bond markets are on their way up, which will put even more pressure on interest rates to return to a more nominal rate
- From what I understand, the pickup in sales the last few weeks was due to people using up their low interest rate pre qualifications before they expire.
- CMHC just put a cap on the amount of new insurance it will be offering this week, effective immediately.
Very interested in these factors. Will have to delve deeper...

I want to thank everyone that took the time to participate in the survey. I may have to run a "sellers survey", as I didn't get one response from someone selling their home. I feel very fortunate to have such a great audience and it's things like this that let me know you're out there! Keep the comments coming and keep it real...estate. 

The feature aDOGtable this week is Titan. Titan is a 2 year old English Bulldog. He is a sweet and loving boy. He will require a home that is familiar with the needs of a Bulldog and is committed to this care. He is newly neutered and recovering eye and skin infections, but he should be fine after medication. He is learning not to mark, but it will take a little time and patience. He is good with other dogs and fine with cats too. He is looking for my forever home. He is currently being cared for by Cool Dog Rescue, a non-profit rescue organization.
Details about this rescue and others (including ways to donate) can be found by clicking the picture :) 

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 and Google+ :) 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 August 1st to August 8th 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  431 (441, 459, 544, 499) *436
Sold:  124  (148, 164, 153, 130) *120
Sale To List Ratio: 29% (34%, 36%, 28%, 26%) *28%
Expired/Cancelled/Withdrawn:  118 (294, 130, 117, 103) *105
Total Active Halifax/Dartmouth Inventory:  5,507 (5,486, 5,648, 5,648, 5,556)
Active Single Family Home: 3,643 (3,643, 3,712, 3,724, 3,671) *2,981
Average Single Family Home List Price:  $328,441 ($308,613, $305,097, $285,954, $286,137) *289k
Average Single Family Home Selling Price:  $312,078 ($294,715, $295,748, $274,839, $275,133)*282k
Average Days On  Market Single Family Home: 106 (103, 99, 79, 102) *76
Active Condos:  443  (436, 445, 442, 445) *265
Average Condo Listing Price:  $298,465 ($322,600, $333,495, $301,963, $289,425) *267k
Average Condo Selling Price:  $291,665 ($310,653, $320,961, $288,279, $281,285) *259k
Average Days On Market Condos:  85 (109, 75, 109, 60) *50
Halifax/Dartmouth Absorption Rate (weeks):  41 (40, 43, 43, 38) *30

Well that was unexpected. Just when I think the inventory has peaked for the year, it makes a comeback. All signs where pointing to the start of the seasonal decline but it would appear that the market has a different idea. Although there wasn't huge gains in single family homes and condo's, sales are failing to remove enough inventory to stop the gain. *RECORD BREAKER ALERT!! Highest average single family home list and sale prices! In a market where values should be reducing, we have record high selling prices instead. So a rather weird market week yet again but at least it's consistent! Sales are down, inventory bloated and property values remain high...higher then ever. Market activity has picked up in the last few weeks with the last minute shoppers, consumers who have been looking and enjoying the plethora of choices but now have to decide as the school year approaches. Still, lots to out there to sift through and lots of overpriced homes destined to stagnate on the market unless drastic measures are taken. Take the real estate survey below and tell me what your thoughts are about our market here in Halifax!

The feature aDOGtable this week is Chance. He's a very sweet boy and he loves, loves ,loves to play. He would love to have a big yard to run around in like a goof ball. He needs some training so obedience is manditory for him. He is being cared for currently by Homeward Bound City Pound.

Details about this rescue and others (including ways to donate) can be found by clicking the picture :) 



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 and Google+ :) Please note that these opinions and comments are solely mine and mine alone.


Newest blog post HERE

If anything has remained steady this year (as with previous years) sale prices yet again remain higher then ever. They have persevered throughout the annual report despite bloated inventory and poor sales

Although the chart shows that we reduced in numbers, July hit the top of the charts with all time high record breaking inventory. Last year enjoyed low inventory to mask the sub-par sales performance but this year does not afford that luxury.

With just under an additional 1000 listings from last year, this stat is the major contributor to the ever expanding inventory levels. Market activity has picked up in recent weeks and inquiries are also up. We didn't come in last place overall this month, so hopefully the momentum carries. 

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 and Google+ :) 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 July 25th August 1st 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  441 (459, 544, 499, 554) *459
Sold:  148  (164, 153, 130, 127) *126
Sale To List Ratio: 34% (36%, 28%, 26%, 23%) *28%
Expired/Cancelled/Withdrawn:  294 (130, 117, 103, 260) *206
Total Active Halifax/Dartmouth Inventory:  5,486 (5,648, 5,648, 5,556, 5,526)
Active Single Family Home: 3,643 (3,712, 3,724, 3,671, 3,635) *2958
Average Single Family Home List Price:  $308,613 ($305,097, $285,954, $286,137, $297,740) *299k
Average Single Family Home Selling Price:  $294,715 ($295,748, $274,839, $275,133, $288,192)*292k
Average Days On  Market Single Family Home: 103 (99, 79, 102, 80) *94
Active Condos:  436  (445, 442, 445, 451) *260
Average Condo Listing Price:  $322,600 ($333,495, $301,963, $289,425, $280,050) *240k
Average Condo Selling Price:  $310,653 ($320,961, $288,279, $281,285, $271,566) *232k
Average Days On Market Condos:  109 (75, 109, 60, 85) *49
Halifax/Dartmouth Absorption Rate (weeks):  40 (43, 43, 38, 38) *28

Everything is down this week...well almost. The bloated inventory decreased in size for the second consecutive week, and with any hopes, will continue the trend in to the fall (no pun intended). Not a whole lot of activity to report this week, sales are still down, days on market are getting longer and the "buying season" is long gone. Still, bursts of activity are happing in spans of days. Everyone talks about it like it's some sort of phenomena, the phone will be quiet for days and BAM! inquiries and showings for a week then nothing again. Buyers are reluctant to commit and it's beginning to cause sellers to loose the "selling confidence". One thing for sure is that my peers are feeling the same pressure as I am when it comes to selling clients listings. It's a challenging place to sell to say the least, but even more difficult when you sit on a product that is overpriced and expect buyers to just accept that fact. The kool-aid is not being swallowed by buyers and it will take the competitiveness, or motivation of sellers to get the job done. According to this weeks stats, and the way you interpret them, 34% of sellers who listed this week will sell their home... Make sure to come back tomorrow for the August monthly wrap up!

The feature aDOGtable this week is Max. Max is a happy pup, and great with kids, as he grew up with them since he was a pup. We’re not sure of his status with cats. He is good with other dogs, loves to snuggle and get belly rubs, and loves to play. Max is neutered, vaccinated and housebroken and does well in the house when you’re not there.

Details about this rescue and others (including ways to donate) can be found by clicking the picture :) 

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 and Google+ :) Please note that these opinions and comments are solely mine and mine alone.


Newest blog post HERE