Halifax (HRM) Residential Market Statistic Update For Week of March 7th To March 14th 2013
(Previous weeks numbers in brackets)
*Last year this week
New Listings: 495 (491, 389, 334, 361) *437
Sold: 98 (89, 104, 87, 100) *169
Sale To List Ratio: 20% (18%, 27%, 26%, 24%) *39%
Expired/Cancelled/Withdrawn: 62 (156, 42, 99, 123) *93
*Total Active Halifax/Dartmouth Inventory: 4,326 (4,163, 4,045, 3,951, 3,876)
Active Single Family Home: 2832 (2735, 2576, 2519, 2480) *2368
Average Single Family Home List Price: $282,934 ($306,619, $276,882, $306,974, $285,934) *302k
Average Single Family Home Selling Price: $273,961 ($300,136, $270,864, $295,689, $272,071) *297k
Average Days On Market Single Family Home: 117 (98, 110, 75, 97) *117
Active Condos: 319 (313, 312, 310, 301) *246
Average Condo Listing Price: $241,071 ($209,628, $216,223, $273,928, $246,266) *250k
Average Condo Selling Price: $232,714 ($203,210, $208,300, $266,042, $241,866) *244k
Average Days On Market Condos: 98 (89, 62, 40, 44) *63
*Halifax/Dartmouth Absorption Rate (weeks): 50 (48, 47, 49, 53)
Listing activity continued to ramp up again this week with the spring market quickly approaching. Mediocre sales again this week which is reflected by the sales to list ratio which came in at almost half the stat from this time last year. Condo and single family home values remained average while the average days on market witnessed growth in both types or property. Lots of interest and inquiries from prospective sellers this week with regards to key factors they should take into consideration when choosing representation in this type of market. The answer is pretty simple, with the right price tag on your home and exposure to potential buyers, your home is bound to sell. Tech saavy clients (the type I usually attract) see the value and future of online presence with the sales associate being less involved with traditional methods to pursue cutting edge marketing campaigns. I have replaced things like newspaper ads and TV spots and opted for more focussed and measurable campaigns like social media and web advertising. Gone is the still picture "virtual tour'' replaced with a descriptive HD video walkthrough. Every time I sit with someone to discuss my marketing strategy, they are amazed at how comprehensive and cutting edge advertising property has become. And the biggest tip of the week which isn't really news to most yet people still keep opting for...YOU GET WHAT YOU PAY FOR! Don't let the stress of selling your home lead you down a road of discount repairs or representation. Professional's may cost you a little more in the short term but are worth their weight in gold in the long run. My new method works...very well! And I'm proving it one sale at a time.
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 :)
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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