Halifax (HRM) Residential Market Statistic Update For Week of July 18th to July 26th 2012
(Previous weeks numbers in brackets)
New Listings: 434 (441, 508, 460, 488)
Sold: 162 (209, 185, 161, 186)
Sale to List Ratio: 37% (47%, 36%, 35%, 38%)
Expired/Cancelled/Withdrawn: 70 (191, 82, 224, 81)
Active Single Family Home: 2979 (2931, 2959, 2938, 2997)
Average Single Family Home List Price: $277,209 ($288,808, $308,187, $298,840, $292,136)
Average Single Family Home Selling Price: $271,132 ($281,603, $299,219, $287,605, $284,278)
Average Days on Market Single Family Home: 93 (81, 72, 84, 69)
Active Condos: 260 (259, 276, 272, 265)
Average Condo Listing Price: $198,147 ($222,643, $230,070, $291,935, $243,605)
Average Condo Selling Price: $192,370 ($216,906, $224,458, $279,786, $233,500)
Average Days on Market Condos: 50 (37, 64, 50, 91)
*Halifax/Dartmouth Absorption Rate (weeks): 27.1 (25.8, 26.2, 25.6, 25.5)
As we wave goodbye to the tall ships this week in Halifax, so do we wave goodbye to higher property sales. Sales this week dropped ten points falling back down to a rough monthly sales to list ratio average of 37%. Lower number of new additions to the inventory week however we still managed to inflate that number by the lacklustre sales performance. Both single family home and Condo values fell this week by a good amount and it marks the first time in months that single family home values have dropped below the 280k mark. Average days on market still remains positive with homeowners not waiting too long from list to sale, especially in the condo market. Make sure to come back next wednesday for the July monthly wrap up and don't forget to check out the statistic report on the current Halifax Multi-residential market below.
Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? 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
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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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