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317, 303, 352) *303 Sold: 88 (98, 108, 83, 85) *122 Sale to List Ratio: 29% (37%, 34%, 27, 24%) *40% Expired/Cancelled/Withdrawn: 307 (102, 115, 105, 144) *149 Active Single Family Home: 2660 (2809, 2808, 2819, 2810) *2399 Average Single Family Home List Price: $279,346 ($293,259,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! 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 :) Newest blog post HERE Comments are closed.
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Jeremiah Wallace, CDJeremiah 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.. ListingsPhoto's by Jeremiah
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