Halifax Residential Inventory March 2013
Looks like we have an average addition to the inventory this month. The slow climb continues its upward momentum as we approach the peak months for inflated inventory stats. Nothing out of the ordinary here.
Halifax Residential Average Sold Price
Sale prices made a solid recovery this month taking back top spot overall. Coming in at just over the $270 mark, the value spread from five years ago is $50k. That means on average, homes five years ago where selling for $50,000 less then what they are selling for today. Thats a 10% annual gain average.
Halifax Residential Sales March 2013
Looks like we have another record breaking sales month, not in a good way. Sales have hit the decade low slump yet again this month for the second time since December 20. We are yet to break from this dismal sales performance since this time last year. Lots of speculation and guessing but thats all it is. The stats that I report are strictly from the Realtor® side of the MLS (Multiple Listing Service) and do not take into consideration private sales or companies that do not trade on the MLS. That being said, I can't imagine that percentage would influence these reports to the point of reversing the slump. Just to hammer the point home, in March of 2007 there was 693 sales. Thats a difference of 332, almost twice as much as this month! Things should start to move with the warmer weather and seasonal trend, but at this rate we are looking at a repeat of last year. Whats your thoughts on the Halifax sales slump?
Make sure to come back Thursday for the weekly stat wrap up and market report (every Thursday)
Are you familiar with ViewPoint Realty? How about the ViewPoint real estate map? Its a great tool for all your real estate research needs and when you are ready to buy or sell, its the competitive edge over your competition!
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 :)
Newest blog post HERE
4/3/2013 08:39:20 am
If I'm reading this right, sales are down 34% from March 2012 (552 sales) to March 2013 (361 sales). I also see about 10 months of declining sales numbers...
4/5/2013 06:06:16 am
Not really the numbers we were hoping for this time of year...at all!
4/4/2013 10:01:25 am
Sales are tanking in Halifax, just like they are across the whole country. A reduction in sales volume is always followed by a reduction in price. The housing bubble that has been forming for the past ten years is bursting before our eyes. If you have a house on the market, it's time to cut your price and get out before this gets really ugly!
4/5/2013 06:11:25 am
My feel is that its not a "bursting bubble" merely a hiccup or market correction. Lots of funny stuff going on in the national arena which could be cause for reducing market confidence. Thanks for the comment!
4/9/2013 06:38:29 am
You are correct.
Comments are closed.
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