THE HALIFAX REAL ESTATE BLOG MONTHLY MULTI-RESIDENTIAL MARKET STATISTICS AND NEWS REPORT FOR OCTOBER 2012
Halifax Multi Residential Inventory
Multi Residential inventory remains lower then average with only 2010 coming in below it in the last 8 years. This low showing is also being mimicked by the residential real estate market and shows these property types have demand.
Halifax Multi-Residential Average Sold Price
Sale prices are again much like the 2010 market year where there was a large spike in august and a steep spike downwards in the months to follow. Mortgage renewal and portfolio changes may be the cause.
Halifax Multi Residential Market Share
Once again, Duplex's reign supreme in the domination of the Halifax Multi-Residential market. Looking for a property that has 5 to 12 units in it has proven to be a difficult task for many and even more challenging if you are looking for anything over 15. There are only 2 active over 15 unit properties currently for sale on the market and this type of property does sell most of the time without actually going active on the MLS or ICX.
So our multi-residential market sales average is pretty average for this time of year and our inventory remains lower then average, which seems to be the same trend affecting the residential market. With contracts for Irving shipyard addition construction in hand and the ship building contracts themselves gaining momentum, one can't help but look to the not so distant future and think of what the new year will bring. Thanks for stopping 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 :)
Newest blog post HERE
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