For the week of October 20th to October 27th 2011
Previous weeks stats in brackets
New Listings: 376 (397, 368, 414, 369)
Sold: 111 (126, 116, 128, 127)
Sale to List Ratio: 30% (32%, %32, 31%, 34%)
Expired/Cancelled/Withdrawn: 123 (149, 145, 343, 113)
Active Single Family Home: 2961 (2986, 3011, 3004, 3126)
Average Single Family Home List Price: $259,354($285,399, $287.019, $256,696, $272,161)
Average Single Family Home Selling Price: $252,129 ($275,291, $274,126, $247,369, $265,584)
Average Days on Market - Single Family Home: 99 (100, 91. 89, 108)
Active Condos: 329 (339, 333, 341, 375)
Average Condo Listing Price: $211,275 ($194,265, $247,426, $238,343, $305,329)
Average Condo Selling Price: $204,673 ($189,523, $240,294, $230,743, $298,670)
Average Days on Market - Condos: 167 (56, 138, 45, 288)
As the dust from the Ship Building contract settles, its back to business as usual...or is it? Nothing quite out of the ordinary as far as the stats are concerned, but behind the scenes activity relating to real estate is all the buzz. Speculators, Investors, developers and property owners have turned there eyes to Halifax looking for the next "Hot Spot" in Canada. The anticipation of things to come have a lot of people excited and others taking a deep breath and wondering how this news will change their situation. While some people may try to capitalize on the inevitable market surge, others will be wondering how to gather down payments and financing for property acquisition as the house prices rise.
Check back on Monday as I plan to do a "Stats Report" regarding multi-family and vacant lots. These will become a hot commodity as developers move in to make accommodations for the projected influx of people coming to HRM. Doing a quick check I noticed out of the 99 active multi-family listings, 12 are conditional/pending. Coincidence?
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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