The Halifax Real Estate Blog Weekly Stats Report and Market News Update (Every Thursday)

Halifax (HRM) Residential Market Statistic Update For Week of June 27th July 4th 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  554 (497, 441, 520, 593) *460
Sold:  127 (156, 173, 166, 184) *161
Sale To List Ratio: 23% (31%, 39%, 32%, 31%) *35%
Expired/Cancelled/Withdrawn:  260 (111, 99, 83, 209,) *224
Total Active Halifax/Dartmouth Inventory:  5,526 (5,573, 5,547, 5,550, 5,485)
Active Single Family Home: 3,635 (3,693, 3,677, 3,689, 3,659) *2938
Average Single Family Home List Price:  $297,740 ($295,303, $281,042, $304,904, $290,481) *299k
Average Single Family Home Selling Price:  $288,192 ($285,878, $272,792, $298,081, $282,512)*287k
Average Days On  Market Single Family Home: 80 (82, 82, 98, 86) *84
Active Condos:  445  (451, 447, 449, 436) *272
Average Condo Listing Price:  $280,050 ($273,871, $250,852, $236,461, $283,912) *292k
Average Condo Selling Price:  $271,566 ($267,032, $244,526, $199,423, $275,449) *280k
Average Days On Market Condos:  85 (88, 88, 188, 95) *50
Halifax/Dartmouth Absorption Rate (weeks):  38 (36, 35, 35, 34) *26

After a pretty shocking June report, the hits just keep on coming with yet another dreadful sales week. Seems everyone is talking about the industry woes amongst themselves but apparently failing to inform the 554 new listers of the week what they are up against. Surprisingly, listings keep flooding the market regardless of the already bloated inventory that's failing to move. The only reason we actually reduced in numbers this week was because of the mass amount of cancelled/expired/withdrawn listings that came off the market on the 1st of the month (contract time is up). Although all indicators point to market correction, the stubborn selling values remain high with Atlantic Canadians holding steady to their home prices. The last few weeks have strangely picked up the tempo and market activity has been on the rise is all sectors, so look for the impact of that in upcoming weeks. Maybe we are just having an another off year and buyers are simply not around, maybe the mortgage rules and interest rate hikes have caused gun shyness and market uncertainty. There's a menagerie of ideas and speculation but one fact remains...we are in a sales slump!

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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 and Google+ :) Please note that these opinions and comments are solely mine and mine alone.


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