Halifax (HRM) Residential Market Statistic Update For Week of July 5th to July 12th 2012
New Listings: 508 (460, 488, 511, 507)
Sold: 185 (161, 186, 206, 195)
Sale to List Ratio: 36% (35%, 38%, 40%, 39%)
Expired/Cancelled/Withdrawn: 82 (224, 81, 114, 87)
Active Single Family Home: 2959 (2938, 2997, 2968, 2982)
Average Single Family Home List Price: $308,187 ($298,840, $292,136, $290,506, $291,325)
Average Single Family Home Selling Price: $299,319 ($287,605, $284,278, $284,057, $285,079)
Average Days on Market Single Family Home: 72 (84, 69, 92, 79)
Active Condos: 276 (272, 265, 267, 259)
Average Condo Listing Price: $230,070 ($291,935, $243,605, $281,089, $276,180)
Average Condo Selling Price: $224,458 ($279,786, $233,500, $265,200, $267,952)
Average Days on Market Condos: 64 (50, 91, 101, 37)
*Halifax/Dartmouth Absorption Rate (weeks): 26.2 (25.6, 25.5, 25, 25.5)
Some good news this week with the defence minister visit and announcement to commence the Halifax shipyard billion dollar contract (Read below). We should start seeing some marginal market activity changes in the short term and more noticeable effects a few months down the road as the contract gets into full swing. With the confirmation of the contract start, this could be the tip that investors, speculators and property owners/buyers needed to gain confidence in the market to fuel their next decision. Nothing out of the ordinary as far as stats are concerned this week. Single family home values tipped over the 300k mark (list) and almost broke the 300k mark in selling prices for the second time this year...almost. There was a gain in inventory this week and the absorption rate increased a little to reflect that fact. Keep a weathered eye on the Halifax real estate blog as I continue to to bring the latest news reports, statistics and information on the current state of the Halifax real estate 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
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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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