The Halifax Real Estate Blog Market Report and News Update (Every Thursday)

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Expired/Cancelled/Withdrawn:  125  (91, 83, 104, 165) *187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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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 comparative market analysis 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 :) Please note that these opinions and comments are solely mine and mine alone.


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