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Expired/Cancelled/Withdrawn: 141 (112, 302, 85, 114) *149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this week discussed a proposed privacy enactment to withhold certain aspects of the deal from the public only to be withdrawn a few days later upon further review??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 :)
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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