Halifax (HRM) Residential Market Statistic Update For Week of Sept 20th to Sept 27th 2012
(Previous weeks numbers in brackets)

New Listings:  415 (423, 429, 378, 388)
Sold:  125 (121, 143, 119, 146)
Sale to List Ratio: 30%  (29%,33%, 31%, 38%)
Expired/Cancelled/Withdrawn:  85 (114, 95, 258, 81)
Active Single Family Home: 3052 (3030, 3010, 2988, 3033)
Average Single Family Home List Price:  $273,284 ($281,482, $289,334, $254,729, $301,968)
Average Single Family Home Selling Price:  $268,200 ($274,346, $282,428, $246,532, $291,807)
Average Days on  Market Single Family Home: 101 (88, 81, 77, 81)
Active Condos:  303 (293, 285, 270, 277)
Average Condo Listing Price:  $294,280  ($225,261, $227,835, $247,715, $276,345)
Average Condo Selling Price: $284,650 ($216,050, $222,832, $243,548, $274,776)
Average Days on Market Condos:  63 (75, 141, 153, 309)
*Halifax/Dartmouth Absorption Rate (weeks):  39.2 (37.2, 36.4, 36.3, 37)

Yet another week of negative gain this week on the market. Both Condo and Single Family Home inventory made marginal gains this week adding to the already swollen and unusually high numbers. With condo statistics being the highest they have been all year and  overall inventory being the highest it's been all year one can't help but wonder where we go from here. There has been reports and articles being posted about  over inflation and "housing busts" of the Canadian real estate market, so that news could be affecting the way people make the decisions with regards to their personal  property sale or purchase in Halifax. The other school of thought is people standing by to see the effects of the  shipbuilding contract, when it starts, and then jump on board. Many different factors here and there's not just one that creates the overall outcome of a reciprocal housing market. Whats your thoughts? I like to take this opportunity to thank all the people who submitted entries to my form from last week! Lots of positive feedback, lots of great comments and lots of encouragement. I value all of your comments with last week poll as well as all comments that are given for each blog post, so please feel free to leave them as frequently as you would like! 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? I can provide you with a complimentary property appraisal 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 :)


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Halifax (HRM) Residential Market Statistic Update For Week of Sept 13th to Sept 20th 2012
(Previous weeks numbers in brackets)

New Listings:  423 (429, 378, 388, 425)
Sold:  121 (143, 119, 146, 130)
Sale to List Ratio: 29% (33%, 31%, 38%, 31%)
Expired/Cancelled/Withdrawn:  114 (95, 258, 81, 101)
Active Single Family Home: 3030 (3010, 2988, 3033, 3013)
Average Single Family Home List Price:  $281,482 ($289,334, $254,729, $301,968, $307,707)
Average Single Family Home Selling Price:  $274,346 ($282,428, $246,532, $291,807, $299,275)
Average Days on  Market Single Family Home: 88 (81, 77, 81, 96)
Active Condos:  293 (285, 270, 277, 275)
Average Condo Listing Price:  $225,261  ($227,835, $247,715, $276,345, $280,973)
Average Condo Selling Price: $216,050 ($222,832, $243,548, $274,776, $273,296)
Average Days on Market Condos:  75 (141, 153, 309, 126)
*Halifax/Dartmouth Absorption Rate (weeks):  37.2 (36.4, 36.3, 37, 38.8)

Not really any improvement  this week on the market. Nothing of note to really discuss so I am taking the opportunity this week to poll my readers! Please see below if you would like to participate with the results helping me improve the blog. Thanks in advance!

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 property appraisal 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 :)


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Halifax (HRM) Residential Market Statistic Update For Week of Sept 6th to Sept 13th 2012
(Previous weeks numbers in brackets)

New Listings:  429 (378, 388, 425, 464)
Sold:  143 (119, 146, 130, 139)
Sale to List Ratio: 33% (31%, 38%, 31%, 30%)
Expired/Cancelled/Withdrawn:  95 (258, 81, 101, 110)
Active Single Family Home: 3010 (2988, 3033, 3013, 3002)
Average Single Family Home List Price:  $289,334 ($254,729, $301,968, $307,707, $282,947)
Average Single Family Home Selling Price:  $282,428 ($246,532, $291,807, $299,275, $274,227)
Average Days on  Market Single Family Home: 81 (77, 81, 96, 90)
Active Condos:  285 (270, 277, 275, 263)
Average Condo Listing Price:  $227,835  ($247,715, $276,345, $280,973, $270,952)
Average Condo Selling Price: $222,832 ($243,548, $274,776, $273,296, $265,170)
Average Days on Market Condos:  141 (153, 309, 126, 142)
*Halifax/Dartmouth Absorption Rate (weeks):  36.4 (36.3, 37, 38.8, 35.8)

A little healthier turnout on the Halifax real estate market this week. New listings are still a little high for this time of year (369 this week last year) but the sales  have also improved from this time last year (127 this week last year). The average single family home climbs back over the 3ooo mark and we witnessed a 2 point gain on the sales to list ratio. Single family home  values have also made a come back this week coming in over 15k more then this time last year. So overall not a bad first true week of September on the market, but we could always use a good burst of sales to keep things interesting. That being said, the hot areas of town are still quite difficult to buy into at a reasonable price with availability and affordability in these areas becoming the bane of current market purchasers. I posted an update last week with regards to the progress being made with the defence side of the ship building contract, so it looks like we are full steam ahead. Lots of good feedback and a few great discussions on this topic last week and I'm hoping to keep the ball rolling. So here's the question of the week; How will the impact of the Irving ship building contract effect you? Public and private contact comments welcome. 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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Keeping a weathered eye on this event. The ship building contracts fate is intertwined with Halifax and Nova Scotia commerce;

"Canada's chief shipbuilding official has announced an update, nearly a year after the federal government chose the Halifax Shipyard to build warships and arctic patrol vessels worth more than $25 billion.

The Irving Shipyard will start the project by building between six and eight arctic patrol vessels. It is still in what is known as the "project definition" stage.

Commodore Patrick Finn, director of the National Shipbuilding Procurement Strategy Office, told participants at the Canadian Defense Security and Aerospace Conference Friday he realizes people think the government should be moving faster on contracts to design ships, so that materials can be ordered and workers trained.

The first steel isn't scheduled to be cut for another three years.

"If we were cutting steel right now it would not be a good thing because we would be cutting it against an incomplete design," said Finn, "and that's pretty much a guarantee for waste and rework."

How many arctic vessels get built will depend on the cost and final design. Irving engineers are now reviewing the government's preliminary design as part of a process to avoid skyrocketing cost overruns plaguing projects like the Cyclone helicopters.

Getting the patrol vessels started will require another contract to finalize the design and drawings from which the ships will be built.

"Right now our broad target would be to have the more detailed definition contract in place next year," said Finn.

As for the second set of ships — the 21 combat vessels — Finn said Ottawa is in the early boarding stages of determining how big the ships will be and what type of equipment they will carry.
Reported by CBC news"

Look like progress!!

"Talks between the Irving family-owned Halifax Shipyard and the union representing its workers adjourned Thursday with “significant progress,” the union said.

Negotiations between the two parties on a three-year collective agreement started in December after a one-year extension on the existing contract expired.

The Canadian Auto Workers-Marine Workers Federation, which represents 1,000 workers at the Halifax Shipyard, filed for conciliation.

After four days of conciliated talks during the past two weeks, the two sides adjourned negotiations until the last week of September.

“We don’t bargain in the press,” Jamie Vaslet, business agent for Local 1 of the union, said in an interview Thursday.

“We are making progress. We’re getting through a difficult set of bargaining.”

Yard owner Irving Shipbuilding Inc. was equally close-mouthed, although also cautiously optimistic.

“The process is continuing, progress is being made and we are all working hard toward an agreement,” Irving spokeswoman Deborah Hashey said via email.

Any sort of labour unrest would be a blow to the shipyard as it begins to prepare for the recently awarded $25-billion federal shipbuilding contract.

Ottawa announced last fall that the shipyard had won the bid to build 21 navy combat vessels under its $35-billion national shipbuilding procurement project.

Irving is also in contract negotiations with Ottawa to build six Arctic offshore patrol vessels as the initial phase of that 30-year project.

Hashey said the shipyard has hired a “small number” of executives, naval architects and engineers with combat vessel experience from the United States and United Kingdom to help with the frigate contracts.

While some shipyard workers had privately complained that new hires were putting local jobs in jeopardy, Vaslet said none of the yard’s union members are on layoff.

“The company is actively recruiting steelworkers, electricians, ironworkers, all of the major trades,” said Vaslet.

With business reporter Colleen Cosgrove

([email protected])

About the Author

By JOHN DeMONT Business Reporter"

Halifax (HRM) Residential Market Statistic Update For Week of August 30th to Sept 6th 2012
(Previous weeks numbers in brackets)

New Listings:  378 (388, 425, 464, 436)
Sold:  119 (146, 130, 139, 120)
Sale to List Ratio: 31% (38%, 31%, 30%, 28%)
Expired/Cancelled/Withdrawn:  258 (81, 101, 110, 105)
Active Single Family Home: 2988 (3033, 3013, 3002, 2981)
Average Single Family Home List Price:  $254,729 ($301,968, $307,707, $282,947, $289,389)
Average Single Family Home Selling Price:  $246,532 ($291,807, $299,275, $274,227, $282,448)
Average Days on  Market Single Family Home: 77 (81, 96, 90, 76)
Active Condos:  270 (277, 275, 263, 265)
Average Condo Listing Price:  $247,715  ($276,345, $280,973, $270,952, $267,268)
Average Condo Selling Price: $243,548 ($274,776, $273,296, $265,170, $259,100)
Average Days on Market Condos:  153 (309, 126, 142, 50)
*Halifax/Dartmouth Absorption Rate (weeks):  36.3 (37, 38.8, 35.8, 31.5)

Make no mistake, the absorption rate only dropped this week due to an inflated expired/canceled/withdrawn statistic. That statistic is high because this time of the month is when listings expire and they're renewed or come off the market completely after their contract is finished. Another factor about this time of year is back to school. With a concentration of getting the little ones off to their classes, the last thing on many parents minds is moving from or buying a property. General market attitude this week remains in a worrisome state as rumors float and fly around about factors involving the ship building contract creating a lack of confidence atmosphere. Looking ahead to the fall market one can only hope that we see the market improve and begin what many speculators hope to be a very lucrative time of year. Did I miss a statistic? Is there a statistic that you would like to see in the weekly blog report? Feel free to leave any suggestions below in the contact form factor 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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As the summer comes to a close it appears the residential inventory took a vacation with only a 4 stat increase after the ebb and flow of monthly listings and sales activity.

The positive market factor that has stayed consistent and reliable this year has been the residential average price of sold listings. This stat has been strong all year and has stayed the highest value that the Halifax real estate market has ever seen.

And to the negative...At the onset of the year things started slow but the market attitude remained hopeful and optimistic with the ship building contract in hand. "Surly that is going to effect the overall real estate market here in Halifax!" But time and time again (this stat especially) has continued to disappoint on a monthly basis and last month is no exception. As a matter of fact, last month was the second lowest sales performance this year and the overall worst August sales that Halifax has seen in 8 years! I still think that lower then normal inventory is a minor contributing factor, as well as the summer factor but there must be other elements at play here contributing to the state of our real estate market. Many investors, speculators and home owners/buyers are still holding out for the final wrinkles in those  ship building contracts to be ironed out before they make any decisions. However, the passive real estate traffic (the normal market ebb and flow) rate seems to be unusually slow this year as well. Its hard to predict the future of our market this year so hard facts and market reporting will indicate any change of  the current state of affairs for Halifax real estate. Good thing this is the place to find what you need to stay on top of the market! Happy labour day everyone! 

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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