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

Halifax (HRM) Residential Market Statistic Update For Week of Feb 21st to Feb 28th 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  389 (334, 361, 365, 330) *427
Sold:  104 (87, 100, 78, 78) *166
Sale to List Ratio: 27% (26%, 24%, 27%, 24%) *39%
Expired/Cancelled/Withdrawn:  42  (99, 123, 87, 98) *140
*Total Active Halifax/Dartmouth Inventory:  4,045 (3,951, 3,876, 3,828, 3,749)
Active Single Family Home: 2652 (2576, 2519, 2480, 2427) *2286
Average Single Family Home List Price:  $276,882 ($306,974, $285,934, $301,393, $337,942) *289k
Average Single Family Home Selling Price:  $270,864 ($295,689, $272,071, $291,510, $326,260) *281k
Average Days on  Market Single Family Home: 110 (75, 97, 114, 136) *107
Active Condos:  312  (310, 301, 288, 272) *259
Average Condo Listing Price:  $216,223 ($273,928, $246,266, $291,922, $391,216) *240k
Average Condo Selling Price:  $208,300 ($266,042, $241,866, $288,133, $381,625) *236k
Average Days on Market Condos:  62 (40, 44, 76, 94, 125) *143
*Halifax/Dartmouth Absorption Rate (weeks):  47 (49, 53, 61.8, 70.6)

Another solid week on the market as we come close to closing out February. New listing additions reported below last years marker and the sales are significantly lower then last year this time as well. Inventory took a slight bump in all sectors, which is typical for this time of year as we approach the spring market. Both condo and single family home values took a hit in value from last week, and still remains lower then last year this time. So it sounds like it wasn't the greatest week on the market this week, but sales are still higher then they have been this year so far and the sales to list ratio made a 1% gain. The other good market indicator is the fact that the absorption rate declined again this week! A slow but steady recovery from our dismal record breaking last quarter and I anticipate that recovery to continue as we edge closer and closer to the spring. Make sure to stop by tomorrow for the monthly stats wrap up for February 2013. Thanks for stopping by!

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