Halifax (HRM) Multi-Residential Real Estate Monthly Stats Report For July 2012. Investors in Halifax Take Note!
So this report is a little premature to the end of the month but I wanted to give everyone a snapshot of the multi-residential market here in Halifax this week as next week is the regular residential report and a busy one. Average sold price took a nose dive this month averaging around the 300k mark
The multi-res market inventory sits right in the middle of the last six years stats this month at 113 units, same as last month. I would suspect the Average sale price drop and the higher inventory level is due to the market domination that duplexes have.
As you can see, duplexes reign supreme accounting for over half of the multi-res market share. Triplex's hold the distant second and fourplex's come in third spot. Their numbers are as follows;
5-12 Unit: 8
Over 12: 1
With only one unit with over 12 suites available on the market, it seems that there might be a market opportunity for anyone in possession of this type of property. Lots of large developments going on (read last weeks articles below) and with the first signed ship building contract in hand (another article below) it seems the all aspects of the Halifax real estate market are beginning to show the effects. Make sure to come back tomorrow for the weekly residential report and again on the first of august (wow time is flying) for the residential monthly wrap up. Come back regularly to keep up to date on the latest Halifax real estate market news and updates as they happen.
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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Jeremiah Wallace, CD
Jeremiah has been involved with many aspects of the Real Estate industry for over fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah