Halifax Real Estate Statistics And Weekly Market News Report

Halifax (HRM) Residential Market Statistic Update For Week of May 10th to May 17th 2012

New Listings:  563 (632, 468, 519, 539)
Sold:  199 (292, 172, 199, 189)
Sale to List Ratio: 35% (32%, 37%, 38%, 35%)
Expired/Cancelled/Withdrawn:  65 (69, 187, 64, 77)
Active Single Family Home: 2950 (2897, 2823, 2850, 2796)
Average Single Family Home List Price:  $296,277 ($293,401, $294,469, $285,936, $298,168)
Average Single Family Home Selling Price:  $288,607  ($289,016, $288,806, $280,799, $294,101)
Average Days on  Market Single Family Home: 79 (60, 67, 81, 75)
Active Condos:  252 (240, 225, 225, 223)
Average Condo Listing Price:  $254,110  ($255,601, $245,635, $226,141, $273,494)
Average Condo Selling Price: $250,032 ($250,116, $242,470, $222,575, $268,400)
Average Days on Market Condos:  84 (144, 48, 133, 97)

Yet another week just below the "balanced market" range and still hanging in a "buyers" market. However, as I've reported in the past there is still pockets of the city that are enjoying a "balanced" or even a "sellers" market. To explain the sales to list ratio a bit further for those who are wondering, the sales to new listings ratio is simply the number of sales divided by the number of new listings, and is an indicator of whether we are in a buyer's market or a seller's market. There is no standard ratio for any market, but some analysts agree a ratio less than 40% is a buyer's market, 40%-60% is a balanced market and over 60% is a seller's market. Its a great indicator for buyers and sellers alike to react to fluctuations in these numbers and make timely decisions with their real estate transaction (if waiting is an option). 

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