The Halifax Real Estate Blog Weekly Statistic Update And Market Report (Every Thursday)

Halifax (HRM) Residential Market Statistic Update For Week of Jan 17th to Jan 24th 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  330 (394, 331, 206, 85) *380
Sold:  78 (78, 58, 49, 42) *115
Sale to List Ratio: 24% (20%, 18%, 24%, 49%) *30%
Expired/Cancelled/Withdrawn:  98 (136, 82, 453, 87) *70
*Total Active Halifax/Dartmouth Inventory:  3,749 (3,697)
Active Single Family Home: 2427 (2402, 2342, 2264, 2472) *2207
Average Single Family Home List Price:  $337,942 ($291,321, $270,099, $312,035, $280,515) *330k
Average Single Family Home Selling Price:  $326,260 ($279,929, $264,910, $302,069, $273,624) *318k
Average Days on  Market Single Family Home: 136 (133, 100, 89, 131) *86
Active Condos:  272  (261, 239, 241, 247) *256
Average Condo Listing Price:  $391,216  ($331,385, $367,287, $514,900, $188,140) *202k
Average Condo Selling Price:  $381,900 ($322,707, $356,087, $497,826, $181,550) *199k
Average Days on Market Condos:  94 (125, 192, 608, 55) *104
*Halifax/Dartmouth Absorption Rate (weeks):  61.8 (70.6, 65.4, 59.7, 56.5)

Another step in the right direction this week with improvement on most market indicators. Despite the frigid weather this week, buyer activity is still positive with good sales and increased inquiries. It is however still a "buyers market" for most of the HRM, but with improving sales and those pesky "stale" listings starting to move, we may yet see a complete shift in listing availability for all of the HRM and not just the "hot spots". Single family home value is the highest it has ever been this week but the stats on a weekly basis right now are a little messed up as there is not as many sold listings to draw a proper average from. That will improve over the next few weeks...Another positive note is that the absorption rate has finally started to decline! This statistic is crucial in the market formula to indicate just which direction we are headed. 

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 :)


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