The Halifax Real Estate Blog Weekly Market Report And News Update (Every Thursday)
Halifax (HRM) Residential Market Statistic Update For Week of April 4th to April 11th 2013
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 616 (490, 446, 484, 495) *463
Sold: 109 (133, 144, 99, 98) *149
Sale To List Ratio: 18% (27%, 32%, 20%, 20%) *32%
Expired/Cancelled/Withdrawn: 104 (165, 43, 69, 62) *79
*Total Active Halifax/Dartmouth Inventory: 4,791 (4,594, 4,542, 4,453, 4,326)
Active Single Family Home: 3187 (3037, 2992, 2922, 2832) *2742
Average Single Family Home List Price: $292,520 ($279,147, $288,111, $321,604, $282,934) *294k
Average Single Family Home Selling Price: $287,003 ($274,793, $281,138, $313,968, $273,961) *291k
Average Days On Market Single Family Home: 93 (92, 82, 113, 117) *85
Active Condos: 353 (337, 336, 332, 319) *233
Average Condo Listing Price: $292,810 ($273,775, $261,911, $375,044, $241,071) *266k
Average Condo Selling Price: $280,665 ($265,452, $253,700, $358,722, $241,714) *260k
Average Days On Market Condos: 191 (70, 71, 67, 98) *152
Halifax/Dartmouth Absorption Rate (weeks): 112 (42, 46, 49, 50)
Looks like the hits keep on coming! Huge amount of new listings this week and with not a whole lot of sales happening the inventory numbers are climbing at an accelerated rate. The rest of the stats remain relatively normal. Condo and single family home values remain strong, days on market are average and the pile (expired, cancelled, withdrawn listings) are in usual parameter. We did have some "out of the ordinary" activity this week again with the sales dip. Another poor sales week vs big inventory addition equals a very low sales to list ratio, an absorption rate that not only doubled itself from last week, but the highest I have reported that stat since I began recording it last year. Hopefully the nice weather will start bringing buyers out of hiding, and with posting season around the corner we should see positive traffic increase. Thanks for stopping by!
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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