The Halifax Real Estate Blog Weekly Market Report And Statistics Update (Every Thursday)

Halifax (HRM) Residential Market Statistic Update For Week of Feb 7th to Feb 14th 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  361 (365, 330, 394, 331) *381
Sold:  87 (100, 78, 78, 58) *138
Sale to List Ratio: 24% (27%, 24%, 20%, 18%) *36%
Expired/Cancelled/Withdrawn:  123  (87, 98, 136, 82) *67
*Total Active Halifax/Dartmouth Inventory:  3,876 (3,828, 3,749, 3,697)
Active Single Family Home: 2519 (2480, 2427, 2402, 2342) *2264
Average Single Family Home List Price:  $285,934 ($301,393, $337,942, $291,321, $270,099) *282k
Average Single Family Home Selling Price:  $272,071 ($291,510, $326,260, $279,929, $264,910) *277k
Average Days on  Market Single Family Home: 97 (114, 136, 133, 100) *87
Active Condos:  301  (288, 272, 261, 239) *251
Average Condo Listing Price:  $246,266 ($291,922, $391,216, $331,385, $367,287) *244k
Average Condo Selling Price:  $241,866 ($288,133, $381,900, $322,707, $356,087) *237k
Average Days on Market Condos:  44 (76, 94, 125, 192) *143
*Halifax/Dartmouth Absorption Rate (weeks):  49 (53, 61.8, 70.6, 65.4)

Forward market momentum carries on this week with a healthy start to February. Not too much of a variance from last weeks report but a sure sign that things are starting to happen. Although the weather may have kept most buyers at bay for the last few weeks, there has still been a good amount of activity despite the lack of cooperation of mother nature. The sales to list ratio dropped a few points this week which didn't stop the absorption rate from falling again, thanks in part to a higher count of expired/cancelled/withdrawn listings and fewer new additions. Single family and condo values remain relatively strong with figures more reflective of last years prices. All in all, a slow but steady start to a year, by my guess, will prove to be an interesting one. Whats your thoughts? Make sure to scroll down and check out the monthly real estate statistics wrap up for January 2013. Thanks for stopping by!

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