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

Halifax (HRM) Residential Market Statistic Update For Week of Nov 1st to Nov 8th 2012
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  352 (298, 348, 402, 347) *372
Sold:  85 (131, 127, 118, 101) *133
Sale to List Ratio: 24% (44%, 36%, 29%, 27%) *36%
Expired/Cancelled/Withdrawn:  144 (307, 105, 141, 112) *129
Active Single Family Home: 2819 (2810, 2958, 2997, 2970) *2763
Average Single Family Home List Price:  $265,361 ($289,972, $298,397, $288,976, $257,651) *270k
Average Single Family Home Selling Price:  $256,162 ($283,192, $290,206, $281,020, $250,370) *261k
Average Days on  Market Single Family Home: 74 (75, 83, 87, 71) *79
Active Condos:  273 (279, 313, 312, 300) *318
Average Condo Listing Price:  $282,830  ($229,137, $277,318, $254,121, $237,733) *275k
Average Condo Selling Price: $275,276 ($222,682, $269,990, $249,400, $241,346) *267k
Average Days on Market Condos:  56 (72, 207, 92, 66) *187
*Halifax/Dartmouth Absorption Rate (weeks):  39.6 (38.3, 41.3, 41.9, 41.3)

I guess last weeks market blip ended up being just that...a market blip. As we crest the first week  of November we greeted with  chilly weather and a cold market. New listing additions remain on par with last year but the sales to list ratio was dealt a crushing blow by a poor sales week. Not much gain or loss in the inventory though, as the large amount of new additions keep the stat from declining. Single family home values dropped over 20k this week to land us at values below last years totals and Condo values had a significant gain on the week to remain dominant over last year. The "Ol reliable" days on market stats for both types of properties stayed low this week which is to say that  there is still an active market out there in Halifax. The question is, for how much longer?

 
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