Halifax (HRM) Residential Market Statistic Update For Week of Nov 28th to Dec 6th 2012
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 306 (266, 317, 303, 352) *303
Sold: 88 (98, 108, 83, 85) *122
Sale to List Ratio: 29% (37%, 34%, 27, 24%) *40%
Expired/Cancelled/Withdrawn: 307 (102, 115, 105, 144) *149
Active Single Family Home: 2660 (2809, 2808, 2819, 2810) *2399
Average Single Family Home List Price: $279,346 ($293,259, $313,721, $277,478, $265,361) *245k
Average Single Family Home Selling Price: $271,248 ($280,652, $301,240, $266,671, $256,162) *240k
Average Days on Market Single Family Home: 78 (97, 96, 95, 74) *89
Active Condos: 264 (269, 274, 273, 279) *269
Average Condo Listing Price: $360,825 ($270,911, $274,761, $312,250, $283,830) *239k
Average Condo Selling Price: $343,383 ($262,607, $263,769, 300,416, $275,276) *233k
Average Days on Market Condos: 50 (50, 72, 69, 56) *140
*Halifax/Dartmouth Absorption Rate (weeks): 46.5 (48.4, 40.5, 43, 39.6)
Looks like the condo inventory is bullet proof! The condo volume has fluctuated no more then 20 points from the 270 mark in either direction all year long, unlike its roller coaster cousin "single family homes" which saw almost 200 properties slashed from the market this week. Inventory additions are on par with last year and sales are still reasonably lower then this week last year. Both of those factors contribute to a mediocre sales to list ratio percent, coming in 11 points shy of last years mark. The one thing to note is that stale condo listings, the ones that had been around for a while and not really going anywhere, started to move. This property desirability had finally caused the necessary sales to start dropping the days on market statistic. We witnessed the high averages of close to 200 days on market slowly dwindle down to double digits where they have roughly remained for the majority of the year. Condo values did see a spike this week and that is caused by the fact that only 8 sold, one being close to the million dollar mark and another at half a million causing that value anomaly. Don't forget to scroll down to check out the November wrap up and stop by tomorrow for a shiny new enhanced listing announcement. 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..
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