HALIFAX REAL ESTATE MARKET WEEKLY UPDATE AND STATS REPORT TALL SHIP EDITION. HALIFAX REAL ESTATE STARTS HERE!
Halifax (HRM) Residential Market Statistic Update For Week of July 12th to July 19th 2012
New Listings: 441 (508, 460, 488, 511)
Sold: 209 (185, 161, 186, 206)
Sale to List Ratio: 47% (36%, 35%, 38%, 40%)
Expired/Cancelled/Withdrawn: 191 (82, 224, 81, 114)
Active Single Family Home: 2931 (2959, 2938, 2997, 2968)
Average Single Family Home List Price: $288,808 ($308,187, $298,840, $292,136, $290,506)
Average Single Family Home Selling Price: $281,603 ($299,219, $287,605, $284,278, $284,057)
Average Days on Market Single Family Home: 81 (72, 84, 69, 92)
Active Condos: 259 (276, 272, 265, 267)
Average Condo Listing Price: $222,643 ($230,070, $291,935, $243,605, $281,089)
Average Condo Selling Price: $216,906 ($224,458, $279,786, $233,500, $265,200)
Average Days on Market Condos: 37 (64, 50, 91, 101)
*Halifax/Dartmouth Absorption Rate (weeks): 25.8 (26.2, 25.6, 25.5, 25)
Maybe its the Tall Ships! Inventory shrank again this week thanks to a smaller then usual new listing addition, a decent showing in sold listings and sellers pulling off the market. As you can see by the number of sales this week, sales are still in positive flow and with the number of properties on the market dwindling, we may be approaching a sellers market sooner then anticipated. If you stopped by the blog earlier in the week I shared a few articles of interest. One last week which gave the nod to officially commence the first of many ship building contracts here in Halifax and the other this week that discussed the projected economy impact that the contracts will have on our already hot market. Something to the tune of 12,000 jobs over the next four years. Still no real signs of that impact yet and we haven't seen any signs of the dreaded "real estate market boom" but the face of the Halifax real estate market has changed, including service.
On a different note. Be sure to get out and take in the Nova Scotia Tall Ship Festival going on in Halifax now and concludes on monday with a "parade of sale". A great event for all ages with lots of things to do and see! Details and schedule of events can be found HERE.
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 twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah