Halifax (HRM) Residential Market Statistic Update For Week of April 25th to May 2nd 2013
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 683 (573, 616, 490, 446) *468
Sold: 166 (153, 109, 133, 144) *172
Sale To List Ratio: 24% (26%, 18%, 27%, 32%) *37%
Expired/Cancelled/Withdrawn: 125 (91, 83, 104, 165) *187
Total Active Halifax/Dartmouth Inventory: 5,084 (4,933, 4,791, 4,594, 4,542)
Active Single Family Home: 3423 (3287, 3187, 3037, 2992) *2823
Average Single Family Home List Price: $293,869 ($319,827, $309,518, $292,520, $279,147) *294k
Average Single Family Home Selling Price: $286,471 ($311,439, $301,840, $287,003, $274,793) *289k
Average Days On Market Single Family Home: 74 (90, 80, 93, 92) *67
Active Condos: 384 (371, 353, 337, 336) *226
Average Condo Listing Price: $293,533 ($288,341, $295,646, $292,810, $273,775) *246k
Average Condo Selling Price: $285,818 ($280,358, $288,946, $280,665, $265,452) *243k
Average Days On Market Condos: 72 (120, 107, 191, 70) 48
Halifax/Dartmouth Absorption Rate (weeks): 39 (40, 40, 112, 42, 46)
Warm weather brought a couple things this week, a bunch of new listings and an inflation to the inventory. Not the direction I was hoping for this week as some of the important stats ebbed away from the promising start of the month but here we are. Pretty average week and not too much fluctuating from the past few weeks but we are starting to see the new listing addition bloat the overall picture which is pretty typical for this time of year. Values remain solid and days on market remain low which is a positive factor for those considering their window of opportunity to sell. Not to mention the posting season is right around the corner so fairly priced homes in certain areas will go quite quickly. But thats the case in Halifax without the outside factors, we have seen a pretty large market increase from last years announcement and we are still experiencing the market correction. So if you in the market to sell your home, have a good look at the sales performance over the past few years and smartly decide which way you want to market your property. Thanks for stopping by!
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5/3/2013 11:51:09 am
Wow, those inventory numbers are really getting up there. I wonder how much longer prices will stay up until the high inventory starts to takes its toll.
5/3/2013 02:08:47 pm
Lots of inventory, asking prices for houses dropping ever-so-slightly. The sellers will catch on when the realtors tell them they have to me realistic. Everything I see is overpriced.
5/3/2013 02:16:19 pm
Since when do condos sell for as much as houses. Out of whack.
5/8/2013 02:29:22 am
I am looking forward to seeing the monthly graphs.
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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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