Halifax (HRM) Residential Market Statistic Update For Week of Nov 22nd to Nov 28th 2012
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  266 (317, 303, 352, 298) *283
Sold:  98 (108, 83, 85, 131) *161
Sale to List Ratio: 37% (34%, 27, 24%, 44%) *57%
Expired/Cancelled/Withdrawn:  102 (115, 105, 144, 307) *251
Active Single Family Home: 2788 (2809, 2808, 2819, 2810) *2483
Average Single Family Home List Price:  $293,259 ($313,721, $277,478, $265,361, $289,972) *281k
Average Single Family Home Selling Price:  $280,652 ($301,240, $266,671, $256,162, $283,192) *275k
Average Days on  Market Single Family Home: 97 (96, 95, 74, 75) *131
Active Condos:  265  (269, 274, 273, 279) *284
Average Condo Listing Price:  $270,911  ($274,761, $312,250, $283,830, $229,137) *229k
Average Condo Selling Price: $262,607 ($263,769, 300,416, $275,276, $222,682) *223k
Average Days on Market Condos:  50 (72, 69, 56, 72) *125
*Halifax/Dartmouth Absorption Rate (weeks):  48.4 (40.5, 43, 39.6, 38.3)

By this time last year the ship building announcement was in full preliminary market impact swing. Sales where up (almost double), the sales to list ratio was ahead 20 percent and the inventory was at record lows, all the ingredients of a boom market. But as the new year arrived, the initial buzz had faded away leaving in its wake a confused market direction, decreasing sales and a lack of consumer confidence. The change in mortgage rules didn't help things much and  actually compounded the issue by decreasing purchase qualification value, with first time homeowners seeing the brunt of this impact. Still a few more weeks left of the "transition" year and I highly anticipate a much stronger and competitive market in the new year. Make sure you come back on the December 1st to check out the November wrap up! 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 Nov 15th to Nov 22nd 2012
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  317 (303, 352, 298, 348) *303
Sold:  108 (83, 85, 131, 127) *129
Sale to List Ratio: 34% (27, 24%, 44%, 36%) *43%
Expired/Cancelled/Withdrawn:  115 (105, 144, 307, 105) *107
Active Single Family Home: 2809 (2808, 2819, 2810, 2958) *2720
Average Single Family Home List Price:  $313,721 ($277,478, $265,361, $289,972, $298,397) *268k
Average Single Family Home Selling Price:  $301,240 ($266,671, $256,162, $283,192, $290,206) *261k
Average Days on  Market Single Family Home: 96 (95, 74, 75, 83) *102
Active Condos:  269  (274, 273, 279, 313) *306
Average Condo Listing Price:  $274,761  ($312,250, $283,830, $229,137, $277,318) *252k
Average Condo Selling Price: $263,769 (300,416, $275,276, $222,682, $269,990) *242k
Average Days on Market Condos:  72 (69, 56, 72, 207) *172
*Halifax/Dartmouth Absorption Rate (weeks):  40.5 (43, 39.6, 38.3, 41.3)

WOW! Would you look at that average single family home value! Thats only the second time this year that the weekly SFH averages came in over 300k for both list and actual sales price. A couple of whoppers on shore drive may have been a factor but the average listing (of the 85) still decided the overall value. The sales to list ratio stabilized this week to revert to its average overall annual performance in the mid 30 percentile and the absorption rate made a 180 on its last 3 week gain. Some positive activity happening this Movember so far and here's to hoping we can keep the momentum going into the new year! A special mention to my clients that Sold their property this week and to my first time home buyer that received the keys to his new home today! Congratulations on both accounts! Missed the Halifax multi-residential market report? Scroll down to read. 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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Multi Residential inventory remains lower then average with only 2010 coming in below it in the last 8 years. This low showing is also being mimicked by the residential real estate market and shows these property types have demand.

Sale prices are again much like the 2010 market year where there was a large spike in august and a steep spike downwards in the months to follow. Mortgage renewal and portfolio changes may be the cause.

Once again, Duplex's reign supreme in the domination of the Halifax Multi-Residential market. Looking for a property that has 5 to 12 units in it has proven to be a difficult task for many and even more challenging if you are looking for anything over 15. There are only 2 active over 15 unit properties currently for sale on the market and this type of property does sell most of the time without actually going active on the MLS or ICX. 

So our multi-residential market sales average is pretty average for this time of year and our inventory remains lower then average, which seems to be the same trend affecting the residential market. With contracts for Irving shipyard addition construction in hand and the ship building contracts themselves gaining momentum, one can't help but look to the not so distant future and think of what the new year will bring. 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 Nov 8th to Nov 15th 2012
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  303 (352, 298, 348, 402) *372
Sold:  83 (85, 131, 127, 118) *133
Sale to List Ratio: 27% (24%, 44%, 36%, 29%) *36%
Expired/Cancelled/Withdrawn:  105 (144, 307, 105, 141) *129
Active Single Family Home: 2808 (2819, 2810, 2958, 2997) *2763
Average Single Family Home List Price:  $277,458 ($265,361, $289,972, $298,397, $288,976) *270k
Average Single Family Home Selling Price:  $266,671 ($256,162, $283,192, $290,206, $281,020) *261k
Average Days on  Market Single Family Home: 95 (74, 75, 83, 87) *79
Active Condos:  274 (273, 279, 313, 312) *318
Average Condo Listing Price:  $312,250  ($283,830, $229,137, $277,318, $254,121) *275k
Average Condo Selling Price: $300,416 ($275,276, $222,682, $269,990, $249,400) *267k
Average Days on Market Condos:  69 (56, 72, 207, 92) *187
*Halifax/Dartmouth Absorption Rate (weeks):  43 (39.6, 38.3, 41.3, 41.9)

Relatively average performance this week as we edge closer to Christmas time. New listing additions, sales and expired listings all dropped this week to conform to usual market trend for this time of year. With the end of the year approaching the general market attitude remains hopeful and optimistic, with the focus now shifting to real estate strategy for the upcoming new year. The past couple of weeks have seen a flurry of "last minute" activity with not only property listings and purchases but friends in the financial sector report the same anomaly. Just goes to show that no matter how uncertain times are in real estate, there is always people seeking, buying and selling property for the many reasons that fuel the industry. 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 Nov 1st to Nov 8th 2012
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  352 (298, 348, 402, 347) *372
Sold:  85 (131, 127, 118, 101) *133
Sale to List Ratio: 24% (44%, 36%, 29%, 27%) *36%
Expired/Cancelled/Withdrawn:  144 (307, 105, 141, 112) *129
Active Single Family Home: 2819 (2810, 2958, 2997, 2970) *2763
Average Single Family Home List Price:  $265,361 ($289,972, $298,397, $288,976, $257,651) *270k
Average Single Family Home Selling Price:  $256,162 ($283,192, $290,206, $281,020, $250,370) *261k
Average Days on  Market Single Family Home: 74 (75, 83, 87, 71) *79
Active Condos:  273 (279, 313, 312, 300) *318
Average Condo Listing Price:  $282,830  ($229,137, $277,318, $254,121, $237,733) *275k
Average Condo Selling Price: $275,276 ($222,682, $269,990, $249,400, $241,346) *267k
Average Days on Market Condos:  56 (72, 207, 92, 66) *187
*Halifax/Dartmouth Absorption Rate (weeks):  39.6 (38.3, 41.3, 41.9, 41.3)

I guess last weeks market blip ended up being just that...a market blip. As we crest the first week  of November we greeted with  chilly weather and a cold market. New listing additions remain on par with last year but the sales to list ratio was dealt a crushing blow by a poor sales week. Not much gain or loss in the inventory though, as the large amount of new additions keep the stat from declining. Single family home values dropped over 20k this week to land us at values below last years totals and Condo values had a significant gain on the week to remain dominant over last year. The "Ol reliable" days on market stats for both types of properties stayed low this week which is to say that  there is still an active market out there in Halifax. The question is, for how much longer?

Following the annual trend, the residential inventory continues to decrease in size as we head towards the coldest time of year both weather and market wise. The stat does however remain lower then normal with only 2007 beating it out.

Average sold price values remain the strongest they have ever been  and without jinxing it, only 2 months remain for this stat to achieve a clean sweep! A good $5,000 bump over last years value but  no comparison to the $56,000 gain that we have made in the last six years.

Finally! Some good news to report on in this category. Sales this month made a nice little comeback and actually beat out one of the better sales years! Not saying you should expect this trend to continue but its a nice change from the usual performance report.


So once again our market takes an unexpected turn. Just when you though "Ol reliable" was going to go softly into the night (more so the winter) , it rebounds back with some pretty impressive force. Sales are up, inventory remains low and values are at record highs. Its still a great time to buy or sell and as a matter of fact we may be experiencing a little boom market flow with the Christmas push. Not much to choose from in some areas of the Halifax Regional Municipality but thats not stopping buyers from buying and it certainly should encourage some sellers to sell! The weekly stats have remained rather consistent and the only declining stat over the long term has been the residential inventory, but that won't last long as the annual ebb and flow of the market insists on a bloated inventory in the springtime market.  If I was considering listing my home I would have to take in account the current market factors and how they will change in the spring market. Whats your thoughts? If you had a choice of when you could list your home would you prefer a low inventory, end of year market or a high inventory spring market. Thanks for stopping by! The halifax real estate blog weekly market statistic and news report is below or click HERE for the latest blog post.

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 25th to Nov 1st 2012
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  298 (348, 402, 347, 441) *372
Sold:  131 (127, 118, 101, 120) *133
Sale to List Ratio: 44% (36%, 29%, 27%, 30%) *36%
Expired/Cancelled/Withdrawn:  307 (105, 141, 112, 302) *129
Active Single Family Home: 2810 (2958, 2997, 2970, 2965) *2763
Average Single Family Home List Price:  $289,972 ($298,397, $288,976, $257,651, $279,834) *270k
Average Single Family Home Selling Price:  $283,192 ($290,206, $281,020, $250,370, $271,930) *261k
Average Days on  Market Single Family Home: 75 (83, 87, 71, 80) *79
Active Condos:  279 (313, 312, 300, 309) *318
Average Condo Listing Price:  $229,137  ($277,318, $254,121, $237,733, $259,766) *275k
Average Condo Selling Price: $222,682 ($269,990, $249,400, $241,346, $254,988) *267k
Average Days on Market Condos:  72 (207, 92, 66, 304) *187
*Halifax/Dartmouth Absorption Rate (weeks):  38.3 (41.3, 41.9, 41.3, 38)

Little bit of a market blip going on this week. Stats are healthy this week...really healthy! New listings hit below 300 new additions, making this week the first time since the beginning of the year. With strong sales this week, the sales to list ratio made a huge comeback coming in at 44%! Thats basically like saying that for every two houses that listed this week, one sold. Which bring me to my next finely performing stat, days on market. With solid performance all year, this stat is a consistent performer with excellent averages and this week is no exception. So with a refreshing week on the Halifax real estate market, we look to the Irving ship builders to pitch in with their two cents and they have. The Ship yard expansion has been given the green light and is set to commence activity in the "first quarter of next year". Good news all around as we head into Movember and what should prove to be a cold market winter. Come back Tomorrow for the October monthly stats wrap up! 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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