Following the low inventory trend, January comes in at just over 70 active listings making it the second lowest entry in six years. Inventory followed its usual downward trend near the end of the year and settled in at the second lowest showing in 6 years as well.
The average sold price has followed the residential market trend...upwards! 2011 ended on a high note with a record breaking december price height. You can see the rising price happen post "ship building" announcement month. January comes in at a record breaking entry at just over the 380k mark.
Market share remains relatively unchanged from previous months. Duplex's have the majority share over all other categories combined. Properties over 12 units still have the lowest entry in Halifax with only 2 current actives.
So it seems that the buzz from the "ship building" confirmation has carried market momentum into 2012. The multi-res market is following the same trend as the residential property market with prices on the rise, inventory dropping and record breaking on a monthly basis. The Halifax real estate market is the healthiest its been in years and expected to improve as the year progresses. Stay tuned to find out...
Make sure to follow me on Twitter for updates on all things real estate. Friend me on Facebook to stay connected to the market. Check out the rest of the site to see my cutting edge approach to real estate and see just how different I do things and come back thursday for the weekly market update!
Please feel free to leave a public comment or question below or contact me for and personal inquiries.
Newest blog post HERE.
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