Halifax (HRM) Residential Market Statistic Update For Week of Oct 4th to Oct 11th 2012
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 347 (441, 415, 423, 429) *368
Sold: 101 (120, 125, 121, 143) *116
Sale to List Ratio: 29% (27%, 30%, 29%, 33%) *32%
Expired/Cancelled/Withdrawn: 112 (302, 85, 114, 95) *145
Active Single Family Home: 2970 (2965, 3052, 3030, 3010) *3011
Average Single Family Home List Price: $257,651 ($279,834, $273,284, $281,482, $289,334) *287k
Average Single Family Home Selling Price: $250,370 ($271,930, $268,200, $274,346, $282,428) *274k
Average Days on Market Single Family Home: 71 (80, 101, 88, 81) *91
Active Condos: 300 (309, 303, 293, 285) *333
Average Condo Listing Price: $237,733 ($259,766, $294,280, $225,261, $227,835) *238k
Average Condo Selling Price: $241,346 ($254,988, $284,650, $216,050, $222,832) *231k
Average Days on Market Condos: 66 (304, 63, 75, 141) *138
*Halifax/Dartmouth Absorption Rate (weeks): 41.3 (38, 39.2, 37.2, 36.4)
A lower addition of new listings added to the market this week and the first time since august that we hit below 400. Sales are also down this week but having lower new listing addition's has caused the mediocre sales to list ratio to gain 2 points. There's life in the market yet with these new additions which actually added stock to the single family home stat, going against the norm for this time of year. Both Condo and SFH's took significant blows to their consistent and reliable values this week with SFH's seeing the worst of it with a 20k drop. Both are still experiencing solid days on market numbers, concluding that the homes for sale are still selling in a timely fashion. The absorption rate bumped over the 40 week mark making it the first time since this stat has been tracked here (7 months). I have included last year stats this week (*) and thinking of making them a permanent addition, what do you think?
If you missed my midweek posting, I will be taking the blog live as I host a table at the 1st annual Howl-O-Ween extravaganza at Shubie Park in support of local animal shelters. You can find out more by scrolling down or clicking HERE. If multi-residential stats are of interest, I will be posting the monthly report early next week so make sure to stop 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