Halifax (HRM) Residential Market Statistic Update For Week of Oct 18th to Oct 25th 2012
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  348 (402, 347, 441, 415) *397
Sold:  127 (118, 101, 120, 125) *126
Sale to List Ratio: 36% (29%, 27%, 30%, 29%) *32%
Expired/Cancelled/Withdrawn:  105 (141, 112, 302, 85) *149
Active Single Family Home: 2958 (2997, 2970, 2965, 3052) *2986
Average Single Family Home List Price:  $298,397 ($288,976, $257,651, $279,834, $273,284) *285k
Average Single Family Home Selling Price:  $290,206 ($281,020, $250,370, $271,930, $268,200) *275k
Average Days on  Market Single Family Home: 83 (87, 71, 80, 101) *100
Active Condos:  313 (312, 300, 309, 303) *339
Average Condo Listing Price:  $277,318  ($254,121, $237,733, $259,766, $294,280) *194k
Average Condo Selling Price: $269,990 ($249,400, $241,346, $254,988, $284,650) *190k
Average Days on Market Condos:  207 (92, 66, 304, 63) *56
*Halifax/Dartmouth Absorption Rate (weeks):  41.3 (41.9, 41.3, 38, 39.2)

Going to take this weeks entry to do a shameless plug on an event that I am taking part in this weekend! Please join me this Saturday October 27th at Shubie Park in Darmouth for the first annual "howl-o-ween extravaganza" in support of local animal shelters. So come out with the kids (human,furry or both) and stop by my booth for treats, face painting and a chance to win $1,000!! Details of the event can be found HERE. 

Howl O’Ween around the Shubie Canal!The Goblins, Ghouls, Pets n’ Drools committee will be hosting the event! Which is scheduled for Sat. Oct. 27th from 11 to 3 with a rain date of Sun. Oct. 28th.
This event will include suppliers, vendors, displays & demos along with other rescue organisations set up around the canal. This is being done as a family/dog event with trick or treating for the both animals and kids.

Some activities planned for the animals will include bobbing for weiners, costume contest (dogs and ppl) with different catorgies, speed trap for dogs (radar used to get their speed & ticket issued with the info), photographers for pictures.

For the families we will be having a BBQ with hotdogs and hamburgers, face painting and music. As well we have requested a Fire Truck for display and that will depend on their schedule and availability.

We will be placing/assigning locations around the canal for each attendee to set up their display and supplying the tables as well. The rescues have been encouraged to bring a couple of their adoptables with them as well.

Treats for the dogs and kids will be supplied however with this event there will be NO chocolate allowed.

In order to Trick or Treat each person will need to make a donation at the beginning and in return will receive a specially marked bag, this bag will identify the ppl that are entitled to receive a treat for their dog and/or child.

Hope to see you there!


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 Oct 11th to Oct 18th 2012
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  402 (347, 441, 415, 423) *397
Sold:  118 (101, 120, 125, 121) *126
Sale to List Ratio: 29% (29%, 27%, 30%, 29%) *32%
Expired/Cancelled/Withdrawn:  141 (112, 302, 85, 114) *149
Active Single Family Home: 2997 (2970, 2965, 3052, 3030) *2986
Average Single Family Home List Price:  $288,976 ($257,651, $279,834, $273,284, $281,482) *285k
Average Single Family Home Selling Price:  $281,020 ($250,370, $271,930, $268,200, $274,346) *275k
Average Days on  Market Single Family Home: 87 (71, 80, 101, 88) *100
Active Condos:  312 (300, 309, 303, 293) *339
Average Condo Listing Price:  $254,121  ($237,733, $259,766, $294,280, $225,261) *194k
Average Condo Selling Price: $249,400 ($241,346, $254,988, $284,650, $216,050) *190k
Average Days on Market Condos:  92 (66, 304, 63, 75) *56
*Halifax/Dartmouth Absorption Rate (weeks):  41.9 (41.3, 38, 39.2, 37.2)

Has it been a year already? This week marked the one year anniversary of the multi-billion dollar shipbuilders contract awarded to Irving and Halifax. So what has changed? Last year I predicted that we would see the impact to the Halifax real estate market in three phases; When the contract was awarded, when the contracts had been finalized (still pending) and when employees of the company begin construction. The first phase came and went as predicted, leaving in its wake a tired sales year and a "hurry up and wait" market attitude. With stalling on both sides happening, the finalization of the contracts remain a mystery. A news article released earlier this week discussed a proposed privacy enactment to withhold certain aspects of the deal from the public only to be withdrawn a few days later upon further review?? So with the plan of action still being ironed out, the second boost of economic surge is yet to come so you will just have to stay tuned to the blog to keep track of all the action! 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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Here's a report from CMHC on housing starts here in Halifax

September 2012 Housing Starts in Halifax


HALIFAX, NOVA SCOTIA--(Marketwire - Oct. 9, 2012) - Housing starts in Halifax, Census Metropolitan Area (CMA) were trending at 2,791 units in September, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) 1 of housing starts. The standalone monthly SAAR was 4,698 units in September, down from 5,159 in August.

"After three quarters of the year, total housing starts activity was mixed in Halifax as single starts remain higher than last year and multiple starts continue to track lower," said Matthew Gilmore, CMHC's Senior Market Analyst for Halifax. "Despite the year-to-date declines, apartment construction remains strong in historic terms," added Gilmore.

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analyzing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets, which can be quite variable from one month to the next.

Single detached starts added 90 actual units in September 2012 compared to 105 units last year. Multiple starts totalled 321 actual units in September compared to 281 units reported in September of last year. Year-to-date total starts have reached 1,907 actual units with multiple starts at 1,165 units and single starts at 742 units. After three quarters of the year, total starts remain below the level recorded last year.

Preliminary Housing Starts data is also available in English and French at the following link:Preliminary Housing Starts Tables

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of 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.

1 All starts figures in this release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR) - that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

Additional data is available upon request.

Contact Information

Market Analysis Contact:
Matthew Gilmore
902-426-4686
Cell: 902-499-4382
[email protected]

Media Contact:
Patricia Montreuil
506-851-2229
Cell: 506-866-8047
[email protected]

Halifax (HRM) Residential Market Statistic Update For Week of Oct 4th to Oct 11th 2012
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  347 (441, 415, 423, 429) *368
Sold:  101 (120, 125, 121, 143) *116
Sale to List Ratio: 29% (27%, 30%, 29%, 33%) *32%
Expired/Cancelled/Withdrawn:  112 (302, 85, 114, 95) *145
Active Single Family Home: 2970 (2965, 3052, 3030, 3010) *3011
Average Single Family Home List Price:  $257,651 ($279,834, $273,284, $281,482, $289,334) *287k
Average Single Family Home Selling Price:  $250,370 ($271,930, $268,200, $274,346, $282,428) *274k
Average Days on  Market Single Family Home: 71 (80, 101, 88, 81) *91
Active Condos:  300 (309, 303, 293, 285) *333
Average Condo Listing Price:  $237,733  ($259,766, $294,280, $225,261, $227,835) *238k
Average Condo Selling Price: $241,346 ($254,988, $284,650, $216,050, $222,832) *231k
Average Days on Market Condos:  66 (304, 63, 75, 141) *138
*Halifax/Dartmouth Absorption Rate (weeks):  41.3 (38, 39.2, 37.2, 36.4)

A lower addition of new listings added to the market this week and the first time since august that we hit below 400. Sales are also down this week but having lower new listing addition's has caused the mediocre sales to list ratio to gain 2 points. There's life in the market yet with these new additions which actually added stock to the single family home stat, going against the norm for this time of year. Both Condo and SFH's took significant blows to their consistent and reliable values this week with SFH's seeing the worst of it with a 20k drop. Both are still experiencing solid days on market numbers, concluding that the homes for sale are still selling in a timely fashion. The absorption rate bumped over the 40 week mark making it the first time since this stat has been tracked here (7 months). I have included last year stats this week (*) and thinking of making them a permanent addition, what do you think?

If you missed my midweek  posting, I will be taking the blog live as I host a table at the 1st annual Howl-O-Ween extravaganza at Shubie Park in support of local animal shelters. You can find out more by scrolling down or clicking HERE. If multi-residential stats are of interest, I will be posting the monthly report early next week so make sure to stop 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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I'm taking the blog live as I join Litters and Critters with many other great sponsors for the 1st annual Howl-O-Ween extravaganza in Shubie Park, Dartmouth on October 27th in support of local shelters! I have some fun stuff for two and four legged creatures planned so make sure you come down and visit me at my booth! Details about the event can be found HERE and you can read a news article about it HERE

This is going to be a great family event with lots to do for all members of the family so I hope to see you there!

Halifax (HRM) Residential Market Statistic Update For Week of Sept 27th to Oct 4th 2012
(Previous weeks numbers in brackets)

New Listings:  441 (415, 423, 429, 378)
Sold:  120 (125, 121, 143, 119)
Sale to List Ratio: 27% (30%, 29%, 33%, 31%)
Expired/Cancelled/Withdrawn:  302 (85, 114, 95, 258)
Active Single Family Home: 2965 (3052, 3030, 3010, 2988)
Average Single Family Home List Price:  $279,834 ($273,284, $281,482, $289,334, $254,729)
Average Single Family Home Selling Price:  $271,930 ($268,200, $274,346, $282,428, $246,532)
Average Days on  Market Single Family Home: 80 (101, 88, 81, 77)
Active Condos:  309 (303, 293, 285, 270)
Average Condo Listing Price:  $259,766  ($294,280, $225,261, $227,835, $247,715)
Average Condo Selling Price: $254,988 ($284,650, $216,050, $222,832, $243,548)
Average Days on Market Condos:  304 (63, 75, 141, 153)
*Halifax/Dartmouth Absorption Rate (weeks):  38 (39.2, 37.2, 36.4, 36.3)

And just like that we start to see the rapid decline of the Single Family Home inventory. I do believe that was the single largest expired listings number to come off the market in a week all year long! Condo's however did not follow suit and actually made a 6 listing addition. This week keeps the "large addition of weekly inventory" going strong with a 30 new listing increase over last year at this time. Home values remain strong this week with a 20k increase from last year and sold listings remain at parity with the amount of sold listings from 2011. As reported from the September monthly report (scroll down) inventory is following the annual downward trend right now but is still experiencing lower then normal statistics. The absorption rate shed a week off of this weeks tally all thanks to that huge amount of expired listings which is actually down from this time last year by 41 units. So we remain in a mixed market this week with no real signs of change on the horizon. General market attitude this week is renewed  positivity with all this new listing action going on, never a dull moment. Don't miss the September monthly wrap up (scroll down) and be sure to check back next week for the Halifax multi-residential statistics report. 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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Let's start the statistic report this month on positive note. Average sold price this month maintains its high-value over all previous years with a marginal 2% increase over 2011. Even with poor sales performance this year, sales values have maintained their constant strength.

It appears as though last month was the peak of the inventory season. Following the annual trend, we should start seeing inventory dwindle as we approach the Christmas season. Availability is still scarce in some areas of the city and homes are selling in certain regions.

Sales this month continued its lackluster performance and showing on the real estate market this month and as a matter of fact for September, it is the lowest it has been in over a decade. Many factors at work here causing this downward trend in Halifax real estate sales and I believe there's outside factors affecting overall performance.

I've talked before about poor sales performance and some of the factors that are weighed when discussing this topic. Some of these factors have included the national housing debate (housing on a downward trend, the new mortgage rules and the biggest thing I believe affecting our market currently is the Irving shipbuilding contract. If you have followed along with the blog and read some of the articles I've posted, you are aware that such a large-scale contract takes a lot of time to put together and come to final agreement. Things are moving along not as quickly as some prospectors would like, and as a matter fact they're still hashing out final details on the defense contract. Statements in the news articles that I have posted confess that the first piece of steel is not be cut for another two years so we still have not seen the economic impact of this contract yet. Positive notes of our market is that we are still seeing high sales values, inventory remains low and demand in certain areas of the city are still up. The other positive note is that property is still selling and quite quickly as well, the average days on market reflects this with week after week of low stats.  The market year this year has proven to be interesting to say the least and overall I believe that we are still headed in the right direction. Whats your thoughts? 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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