Halifax (HRM) Residential Market Statistic Update For Week of Dec 6th to Dec 13th 2012
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 274 (306, 266, 317, 303) *263
Sold: 74 (88, 98, 108, 83) *124
Sale to List Ratio: 27% (29%, 37%, 34%, 27) *47%
Expired/Cancelled/Withdrawn: 126 (307, 102, 115, 105) *146
Active Single Family Home: 2629 (2660, 2809, 2808, 2819) *2326
Average Single Family Home List Price: $285,434 ($279,346, $293,259, $313,721, $277,478) *269k
Average Single Family Home Selling Price: $277,393 ($271,248, $280,652, $301,240, $266,671) *262k
Average Days on Market Single Family Home: 101 (78, 97, 96, 95) *96
Active Condos: 259 (264, 269, 274, 273) *263
Average Condo Listing Price: $299,755 ($360,825, $270,911, $274,761, $312,250) *251k
Average Condo Selling Price: $288,211 ($343,383, $262,607, $263,769, 300,416) *240k
Average Days on Market Condos: 149 (50, 72, 69, 56) *140
*Halifax/Dartmouth Absorption Rate (weeks): 47.1 (46.5, 48.4, 40.5, 43)
Seems as though the nice weather has made for an interesting close to the year. This week may seem like your typical real estate week, except the fact that these numbers are not typical for this time of year (exception being last year). For two consecutive decembers we are seeing solid activity as we approach the holiday break. Last year this time still remains the strongest December week of all time and its in no doubt related to the Irving shipbuilding contract and the sniff of mortgage and interest rate changes. To put it in perspective, the sales to list ratio last year this week (supposedly the worst time to sell) had a higher sales to list ratio then we experienced all 2012! And not just a little. The closest the "spring market" came was a full 10% off the mark. Remember folks, a lot of people will tell you things that they believe to be true without doing the research. The masses parroting "sell in the spring, sell in the spring", but if you have been with the blog long enough or done your research, you know that this may not be the case. The things I report here are based on fact and unbiased statistics. I give my opinion, but in the end the numbers to the talking. Thanks for stopping by! Stay tuned for the multi-residential market report for November coming soon...
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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..
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