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Expired/Cancelled/Withdrawn: 85 (114, 95, 258, 81)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 :)
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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..
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