Well, at least we're not at the bottom of the pile last month, that award goes to 2013. The next two months will be critical in the yearly performance as the peak sales month of the year quickly approaches. Let's see if the momentum carries.

Average sale prices took a southern dive last month,  and settling in 5th place, which as annual trend shows, is an abnormal month indeed. As you can see by the graph, if there is to be odd statistical areas of the year, the first quarter is it.

If you tune into the blog on a weekly basis, then the inflated inventory level should be no surprise, and  last month is no exception. As the piles of renewed and new listings hit the market, our inventory continues to climb to all new heights, and with demand not accommodating supply, we continue to bask in the buyers market here in Halifax. Good news for buyers who are out there, not so good for the 4500 properties currently on the market. 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 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.


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Conforming to annual trend, Halifax inventory continued its slow decline into the winter market. Well above out inventory last year, and still very much the record holder for largest amount of inventory in Halifax recorded.

Average sale prices are still encouraging, or discouraging depending who you talk to. One camp says "reduce now stimulate sales!" while another camp declares "I have my price and I'm sticking to it". Not as simple as a few price corrections however.

Still circling the drain is our monthly sales here in Halifax. Oddly enough, October has proven to be a decent sales month, and by the time we reach November, the sales window closes. 



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.


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No surprise here. Inventory maintains record breaking heights this month with a 400+ unit gain on the runner up. September is usually the last kick at the can for many sellers as the cold season approaches, and chances of selling slim.

Moving in what I thought was a positive direction last month, sale prices in Halifax spiked to all new heights, shattering the "price
correction"
theory. This record has smashed the previous leader by 15K+

And yet, here we are. Falling to record lows, September
did not follow what seemed to be a recovery trend, or at least, an attempt to get back in the fight. Struggling with a dismal year has been the story for sales here in Halifax, and one can only wonder if, and when things will turn around. There has been constant, and several price corrections in the past few months, as well as expiry's and cancellations of listings. Last week alone there was over 400 properties that expired! There was an end of month activity push in September that has now spilled over into October, let's see if that momentum carries or we fall deeper into the doldrums of a stale market. Thanks for stopping by!

Are you familiar with ViewPoint Realty? How about the ViewPoint real estate map? It's 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.


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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.


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So I will start the report with the positive, sale prices are holding steady and the value remains plus of all previous years in June. There is also a negative side to the value report, without the adjustment of this figure inventory will remain where it is and sales will continue to suffer.

RECORD BREAKER ALERT! Here is is folks, we have reached an all time high residential inventory level. The record wasn't shattered by any means but the year that was closest also had a great sales year to compensate. We are not so fortunate with our sales figures this year...

Speaking of sales...Hoping for a rebound or at least a plateau? June hit the skids and tapped out early causing the lowest June sales month in over 14 years. Still lots of activity around and whether its from market ignorance, turning a blind eye or receiving poor advice I would encourage anyone thinking of selling to research and ask the right questions. Do I have to sell right now? Am I being realistic with my asking price given the market? Whats my competition doing and how is my representative making me visible and competitive? I have pretty much blogged the entire month of June about sellers situations and market acceptance, factors and information if you find yourself in this type of market. There is nothing more unsettling then facing unprepared or unrealistic sellers with buyers that have done their homework, asked the right questions and got the right representation. And in this market its all too easy to just move along to the neighbour down the street that is prepared to deal with these market conditions. If your a seller reading this blog, I would place you in the second category. We all hope that any investment that we make in life will pay us back with interest, but the long and short of it is many home sellers are settling on the idea they may break even, but losing right now is more of a reality. Thanks for stopping by! 

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.


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Halifax sale prices remained high again in May but failed to surpass last years value by $227. Thats pretty marginal given the health of the market last year was in a bit better condition then we are experiencing now.

The first peak sales month of the year had a poor showing in May. 97 less transactions then last year and 327 lower then our highest report from 2007. With June being the other peak month one can only hope that our market makes a solid summer sales recovery.

Almost hit the top! Inventory climbed substantially again for the fourth consecutive month and only missed breaking the all time high by 76 units. June has an annual trend of tapering off after May but with a continuing sales slump this statistic may very well continue to rise.
So it would appear that we haven't seen the end of our sales slump yet and with the spring market coming to a close it looks like we may not see a full recovery this year. With talks of mortgage interest hikes on the way it will be interesting to see the impact of that decision not only to our market, but the labouring markets across the country. Usually there is a flurry of activity when rate hikes are looming as people push to find a property before the inevitable change. As these announcements are sometimes used as a market stimulus It will be interesting to see just how much that sways the June market and buyers decisions. Smoke and mirrors or the end of record low rates? Thanks for stopping by!

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


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Inventory starts off the year in healthy way. Not as low as we witnessed last year but hovering around the last few years averages. Look at January as the start of a slow climb up a tall mountain. Sellers plans should start now! 

Although we ended last year on a sour note in this department, sales in January had a strong end of month performance helping it off of the bottom rung. This statistic is married to the inventory and generally follows the same trend. More inventory= more selection= more sales.

Average sold price remains strong and if it follows general average trend, we should see an overall increased monthly value each month. Last year kept the overall increase being beat only by that anomaly December in of 2011. 





All in all not a bad start to the residential market year. Not the best start we have seen but its surely not the worst. I have a good feeling about this year and I think we will finally see some impact from the Irving shipbuilding contract as facility construction contracts come to fruition and workers start migrating to one of the greatest cities in Canada. There is lots of optimism going forward into the new market year, and I for one can't wait to see how things develop. Whats your thoughts/predictions about the Halifax real estate market this year? 

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 Real Estate

Almost made a clean sweep this year with average sale prices...almost. Other then the December value drop, the remainder of the year held annual trend by slightly surpassing the previous years values. The overall value increase has stayed marginal ranging anywhere from 0.9 to 11%.

Inventory never really fully recovered from the impact of the final months of 2011. After the Irving shipbuilding contract was announced there was a noticeable spike in activity which caused the lowest numbers in years!

What do we say about sales this year? Not easy to predict? Not really the anticipated outcome? Slow? All these things and more have painted the "Sales" canvas this year with December putting the final nail in the annual coffin with the lowest amount of sales not only for the year, but every month and year for over a decade. Not really the type of sales year you would expect in the wake of such a large announcement to the economic boost of our city, but an announcement is all that there was. Details of the contract are still being worked out and work start dates are yet to be announced. That combined with lower then usual inventory selection, higher property prices and the brilliant mortgage rules changes pushed many in the "entry level/first time home buyers"  bracket out of the market. These factors, as well as many others, have been instrumental in the demand and lack of availability in the rental market. 

The Halifax real estate market had interesting developments this year and it was almost as if 2012 was the deep breath before a dive. I think this year is going to be just as interesting as the last and I predict that by the end of the year we should be seeing the impact of a new market. Whats your thoughts? Make sure to come back Thursday for the weekly wrap up and the Multi-Residential report for December will be released shortly as well. 

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 real estate

Inventory tapered off again this month following annual trend, however not as drastically as previous years. This is the first month of the year so far that has surpassed three other years inventory totals. Last year this month the inventory took a severe nose dive resulting in a record breaking statistic.

Last month we saw a unusual blip on the overall sales for the month. Turns out it was just that...a blip. Sales this month return to their below average turn out, leaving people wondering when this stat will improve. My prediction is that its not too far away.

The consistent stat for the year continues its run beating out all other years for average sale value again this month. This stat has held its strength all year which is a positive market factor continuing the "slow but steady" trait of our real estate market here in Halifax.


As the year comes to a close, the market shows no signs of either drastic improvement nor drastic decline. We remain on our averages with a little deviation here or there, but nothing completely shocking. As the news keeps rolling in with regards to the Ship building contract and other large scale developments, the impact is bound to take its toll on our economy in a big way soon enough. The new year should bring many surprises and interesting opportunities, so stay tuned as I follow along with the soon to be "investors spotlight" that is the Halifax real estate market. Thanks for stopping by and be sure to come back tomorrow for the Halifax real estate blog weekly wrap up!

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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