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

Halifax (HRM) Residential Market Statistic Update For Week of Oct 25th to Nov 1st 2012
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  298 (348, 402, 347, 441) *372
Sold:  131 (127, 118, 101, 120) *133
Sale to List Ratio: 44% (36%, 29%, 27%, 30%) *36%
Expired/Cancelled/Withdrawn:  307 (105, 141, 112, 302) *129
Active Single Family Home: 2810 (2958, 2997, 2970, 2965) *2763
Average Single Family Home List Price:  $289,972 ($298,397, $288,976, $257,651, $279,834) *270k
Average Single Family Home Selling Price:  $283,192 ($290,206, $281,020, $250,370, $271,930) *261k
Average Days on  Market Single Family Home: 75 (83, 87, 71, 80) *79
Active Condos:  279 (313, 312, 300, 309) *318
Average Condo Listing Price:  $229,137  ($277,318, $254,121, $237,733, $259,766) *275k
Average Condo Selling Price: $222,682 ($269,990, $249,400, $241,346, $254,988) *267k
Average Days on Market Condos:  72 (207, 92, 66, 304) *187
*Halifax/Dartmouth Absorption Rate (weeks):  38.3 (41.3, 41.9, 41.3, 38)

Little bit of a market blip going on this week. Stats are healthy this week...really healthy! New listings hit below 300 new additions, making this week the first time since the beginning of the year. With strong sales this week, the sales to list ratio made a huge comeback coming in at 44%! Thats basically like saying that for every two houses that listed this week, one sold. Which bring me to my next finely performing stat, days on market. With solid performance all year, this stat is a consistent performer with excellent averages and this week is no exception. So with a refreshing week on the Halifax real estate market, we look to the Irving ship builders to pitch in with their two cents and they have. The Ship yard expansion has been given the green light and is set to commence activity in the "first quarter of next year". Good news all around as we head into Movember and what should prove to be a cold market winter. Come back Tomorrow for the October monthly stats wrap up! Thanks for stopping by!

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