Halifax (HRM) Residential Market Statistic Update For Week of Dec 27th to Jan 5th 2013
(Previous weeks numbers in brackets) *Last year this week New Listings: 206 (85, 201, 274, 306) *375 Sold: 49 (42, 89, 74, 88) *68 Sale to List Ratio: 24% (49%, 44%, 27%, 29%) *18% Expired/Cancelled/Withdrawn: 453 (87, 152, 126, 307) *450 Active Single Family Home: 2264 (2472, 2515, 2629, 2660) *2070 Average Single Family Home List Price: $312,035 ($280,515, $325,183, $285,434, $279,346) *295k Average Single Family Home Selling Price: $302,069 ($273,624, $310,464, $277,393, $271,248) *283k Average Days on Market Single Family Home: 89 (131, 120, 101, 78) *119 Active Condos: 241 (247, 251, 259, 264) *242 Average Condo Listing Price: $514,900 ($188,140, $193,105, $299,755, $360,825) *248k Average Condo Selling Price: $497,826 ($181,550, $187,266, $288,211, $343,383) *237k Average Days on Market Condos: 608 (55, 51, 149, 50) *172 *Halifax/Dartmouth Absorption Rate (weeks): 59.7 (56.5, 48.3, 47.1, 46.5) ITS ANOMALY WEEK! The stats are a little out of sorts this week with a few factors contributing. End of the year brought in an extraordinarily large amount of expired listings. Much like the end of the month expire/re-list song and dance that I have talked about in previous posts, but this one is on a much larger scale. Not much detail to go into this week, I mean look at the condo stats, totally warped by the three sold properties this week. Thats almost Vancouver prices! (ya right). So we will take the mulligan this week in hopes that next week returns to normal. Make sure to check out the December monthly statistics wrap up by scrolling down. 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 :) Newest blog post HERE Halifax Real Estate 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 :) Newest blog post HERE 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 :) Newest blog post HERE 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 :) Newest blog post HERE 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 :) Newest blog post HERE 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 :) Newest blog post HERE 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 :) Newest blog post HERE Halifax (HRM) Residential Market Statistic Update For Week of August 9th to August 16th 2012
(Previous weeks numbers in brackets) New Listings: 464 (436, 459, 434, 441) Sold: 139 (120, 126, 162, 209) Sale to List Ratio: 30% (28%, 28%, 37%, 47%) Expired/Cancelled/Withdrawn: 110 (105, 206, 70, 191) Active Single Family Home: 3002 (2981, 2958, 2979, 2931) Average Single Family Home List Price: $282,947 ($289,389, $298,974, $277,209, $288,808) Average Single Family Home Selling Price: $274,227 ($282,448, $292,142, $271,132, $281,603) Average Days on Market Single Family Home: 90 (76, 94, 93, 81) Active Condos: 263 (265, 260, 260, 259) Average Condo Listing Price: $270,952 ($267,268, $240,071, $198,147, $222,643) Average Condo Selling Price: $265,170 ($259,100, $232,169, $192,370, $216,906) Average Days on Market Condos: 142 (50, 49, 50, 37) *Halifax/Dartmouth Absorption Rate (weeks): 35.8 (31.5, 28.1, 27.1, 25.8) Another "so so" week on the market as the absorption rate climbs another four days, sales remain mediocre and inventory climbs over 3000 for the first week of the year. Another point to note this week is the fact that average condo DOM has almost tripled itself and accumulated one of the longest times all year long! On a positive note, sales this week did actually improve and was the cause for a two point gain on the sales to list ratio. All in all a fairly typical week on the Halifax real estate market with a slow and healthy ebb and flow of listings and sales. Predictions on the fall market? I'd love to hear what you think about the upcoming season. Thanks for stopping by and be sure to check back frequently to keep up to date on all things Halifax real estate! 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 Newest blog post HERE The Halifax real estate wrap up weekly edition. Real estate stats, news and more! (Every Thursday)8/2/2012
Halifax (HRM) Residential Market Statistic Update For Week of July 26th to August 2nd 2012
(Previous weeks numbers in brackets) New Listings: 459 (434, 441, 508, 460) Sold: 126 (162, 209, 185, 161) Sale to List Ratio: 28% (37%, 47%, 36%, 35%) Expired/Cancelled/Withdrawn: 206 (70, 191, 82, 224) Active Single Family Home: 2958 (2979, 2931, 2959, 2938) Average Single Family Home List Price: $298,974 ($277,209, $288,808, $308,187, $298,840) Average Single Family Home Selling Price: $292,142 ($271,132, $281,603, $299,219, $287,605) Average Days on Market Single Family Home: 94 (93, 81, 72, 84) Active Condos: 260 (260, 259, 276, 272) Average Condo Listing Price: $240,071 ($198,147, $222,643, $230,070, $291,935) Average Condo Selling Price: $232,169 ($192,370, $216,906, $224,458, $279,786) Average Days on Market Condos: 49 (50, 37, 64, 50) *Halifax/Dartmouth Absorption Rate (weeks): 28.1 (27.1, 25.8, 26.2, 25.6) So as we hit the end month/beginning month expire/renew cycle, things stay relatively the same. With lower sales this week its strange how the inventory declined in numbers. I would point the finger at the expired listings for that, listings that came off the market and never renewed. We did see single family home values rise back to the usual average for the year however and their days on market average remains under the 100 day mark which is positive. Condo's remain a hot commodity around Halifax with unwavering values and "days on market" stats but still not a lot of inventory to choose from. We gain a full week on the Halifax absorption rate which bring the grand tally to almost three extra weeks increased from two weeks ago. Things are slowing for the end of the summer but you will have to come back to see what happens when school gets back in...Be sure to scroll down to check the overall market performance for July in both the residential market and the multi-residential market. 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 Newest blog post HERE Halifax (HRM) Residential Market Statistic Update For Week of July 18th to July 26th 2012
(Previous weeks numbers in brackets) New Listings: 434 (441, 508, 460, 488) Sold: 162 (209, 185, 161, 186) Sale to List Ratio: 37% (47%, 36%, 35%, 38%) Expired/Cancelled/Withdrawn: 70 (191, 82, 224, 81) Active Single Family Home: 2979 (2931, 2959, 2938, 2997) Average Single Family Home List Price: $277,209 ($288,808, $308,187, $298,840, $292,136) Average Single Family Home Selling Price: $271,132 ($281,603, $299,219, $287,605, $284,278) Average Days on Market Single Family Home: 93 (81, 72, 84, 69) Active Condos: 260 (259, 276, 272, 265) Average Condo Listing Price: $198,147 ($222,643, $230,070, $291,935, $243,605) Average Condo Selling Price: $192,370 ($216,906, $224,458, $279,786, $233,500) Average Days on Market Condos: 50 (37, 64, 50, 91) *Halifax/Dartmouth Absorption Rate (weeks): 27.1 (25.8, 26.2, 25.6, 25.5) As we wave goodbye to the tall ships this week in Halifax, so do we wave goodbye to higher property sales. Sales this week dropped ten points falling back down to a rough monthly sales to list ratio average of 37%. Lower number of new additions to the inventory week however we still managed to inflate that number by the lacklustre sales performance. Both single family home and Condo values fell this week by a good amount and it marks the first time in months that single family home values have dropped below the 280k mark. Average days on market still remains positive with homeowners not waiting too long from list to sale, especially in the condo market. Make sure to come back next wednesday for the July monthly wrap up and don't forget to check out the statistic report on the current Halifax Multi-residential market below. 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 Newest blog post HERE |
Jeremiah Wallace, CDJeremiah 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.. ListingsPhoto's by Jeremiah
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