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

Halifax (HRM) Residential Market Statistic Update For Week of Jan 24th to Jan 31st 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  365 (330, 394, 331, 206) *416
Sold:  100 (78, 78, 58, 49) *117
Sale to List Ratio: 27% (24%, 20%, 18%, 24%) *28%
Expired/Cancelled/Withdrawn:  87  (98, 136, 82, 453) *155
*Total Active Halifax/Dartmouth Inventory:  3,828 (3,749, 3,697)
Active Single Family Home: 2480 (2427, 2402, 2342, 2264) *2236
Average Single Family Home List Price:  $301,393 ($337,942, $291,321, $270,099, $312,035) *295k
Average Single Family Home Selling Price:  $291,510 ($326,260, $279,929, $264,910, $302,069) *287k
Average Days on  Market Single Family Home: 114 (136, 133, 100, 89) *86
Active Condos:  288  (272, 261, 239, 241) *255
Average Condo Listing Price:  $291,922  ($391,216, $331,385, $367,287, $514,900) *239k
Average Condo Selling Price:  $288,133 ($381,900, $322,707, $356,087, $497,826) *224k
Average Days on Market Condos:  76 (94, 125, 192, 608) *135
*Halifax/Dartmouth Absorption Rate (weeks):  53 (61.8, 70.6, 65.4, 59.7)

Once again we have improved market factors this week as January comes to a close. This week marks the first time this year that sold listings hit over three digits. Its also the highest sales to list ratio and lowest absorption rate we have seen in over a month. Single family home values remain strong coming in just over the 300k mark, a trend that I predict we will average throughout the year. There was only a couple times last year that the average single family home selling price tipped over that margin, but I have a feeling it will become more often then not as we have already witnessed a steady increase of these averages over the past six months. So things are looking up as we head in to February on a positive note, and put the first real estate market month of 2013 in the books. Make sure to stop by tomorrow as its monthly statistic round up day! The January 2013 monthly report will be posted tomorrow so come back to see how current market compares to the last seven years! Thanks for stopping by!

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