Halifax (HRM) Residential Market Statistic Update For Week of May 23rd-30th 2013
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 530 (545, 570, 606, 683) *513
Sold: 176 (160, 176, 172, 166) *194
Sale To List Ratio: 33% (29%, 31%, 28%, 24%) *38%
Expired/Cancelled/Withdrawn: 86 (79, 106, 97, 125) *130
Total Active Halifax/Dartmouth Inventory: 5,484 (5,419, 5,369, 5,213, 5,084)
Active Single Family Home: 3675 (3647, 3608, 3505, 3423) *2924
Average Single Family Home List Price: $304,362 ($303,352, $303,040, $296,250, $293,869) *312k
Average Single Family Home Selling Price: $297,972 ($296,297, $295,780, $288,403,$286,471) *304k
Average Days On Market Single Family Home: 89 (97, 85, 80, 74) *73
Active Condos: 439 (423, 418, 404, 384) *263
Average Condo Listing Price: $324,576 ($236,769, $211,677, $263,420, $293,533) *247k
Average Condo Selling Price: $318,884 ($233,352, $204,671, $258,366, $285,818) *238k
Average Days On Market Condos: 88 (63, 48, 44, 72) *57
Halifax/Dartmouth Absorption Rate (weeks): 35 (35, 35, 38, 39) *22
Nothing out of the ordinary this week. Marginal gains and losses in the usual areas as we start the second wave of the Spring market. Still a bit off the mark from last year and the inventory totals are still much higher creating the buyers market feel. I still meet people daily that are shocked when I tell them the facts about the current state of our market here and after a short discussion start asking the best approach for such a challenge. There are many approaches that one can take to buy or sell a property, but the best one is an educated one. Know the facts about the area you want to live in(or do), exhaust all resale information you can get! Are listings moving in that area? will it be good for resale? Whats the current state of the property and what will I need to do to it to make it more marketable and bring it up to snuff? Motivation can be a key factor in any purchase/sale and that coupled with the questions above should get you started on the right path. Advice, its a another tool to ensure success. Advice from mortgage specialists, market analysts, inspectors, real estate professionals etc. Don't be afraid to get a few opinions to help out on the tough road ahead. Anyone can come to your home (or visit one with you) and showcase the highlights and the obvious, but in todays market an honest opinion and educated objectification will save you not only time, but thousands of dollars. Thanks for stopping by and don't miss the May monthly stats report on the 1st!
Are you familiar with ViewPoint Realty? How about the ViewPoint real estate map? Its a great tool for all your real estate research needs and when you are ready to buy or sell, its the competitive edge over your competition!
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 comparative market analysis 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 :) Please note that these opinions and comments are solely mine and mine alone.
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Jeremiah Wallace, CD
Jeremiah has been involved with many aspects of the Real Estate industry for over twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah