THE HALIFAX REAL ESTATE BLOG WEEKLY MARKET STATISTICS AND NEWS REPORT (EVERY THURSDAY)

Halifax (HRM) Residential Market Statistic Update For Week of Nov 22nd to Nov 28th 2012
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  266 (317, 303, 352, 298) *283
Sold:  98 (108, 83, 85, 131) *161
Sale to List Ratio: 37% (34%, 27, 24%, 44%) *57%
Expired/Cancelled/Withdrawn:  102 (115, 105, 144, 307) *251
Active Single Family Home: 2788 (2809, 2808, 2819, 2810) *2483
Average Single Family Home List Price:  $293,259 ($313,721, $277,478, $265,361, $289,972) *281k
Average Single Family Home Selling Price:  $280,652 ($301,240, $266,671, $256,162, $283,192) *275k
Average Days on  Market Single Family Home: 97 (96, 95, 74, 75) *131
Active Condos:  265  (269, 274, 273, 279) *284
Average Condo Listing Price:  $270,911  ($274,761, $312,250, $283,830, $229,137) *229k
Average Condo Selling Price: $262,607 ($263,769, 300,416, $275,276, $222,682) *223k
Average Days on Market Condos:  50 (72, 69, 56, 72) *125
*Halifax/Dartmouth Absorption Rate (weeks):  48.4 (40.5, 43, 39.6, 38.3)

By this time last year the ship building announcement was in full preliminary market impact swing. Sales where up (almost double), the sales to list ratio was ahead 20 percent and the inventory was at record lows, all the ingredients of a boom market. But as the new year arrived, the initial buzz had faded away leaving in its wake a confused market direction, decreasing sales and a lack of consumer confidence. The change in mortgage rules didn't help things much and  actually compounded the issue by decreasing purchase qualification value, with first time homeowners seeing the brunt of this impact. Still a few more weeks left of the "transition" year and I highly anticipate a much stronger and competitive market in the new year. Make sure you come back on the December 1st to check out the November wrap up! 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 :)


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