Halifax (HRM) Residential Market Statistic Update For Week of August 30th to Sept 6th 2012
(Previous weeks numbers in brackets)
New Listings: 378 (388, 425, 464, 436)
Sold: 119 (146, 130, 139, 120)
Sale to List Ratio: 31% (38%, 31%, 30%, 28%)
Expired/Cancelled/Withdrawn: 258 (81, 101, 110, 105)
Active Single Family Home: 2988 (3033, 3013, 3002, 2981)
Average Single Family Home List Price: $254,729 ($301,968, $307,707, $282,947, $289,389)
Average Single Family Home Selling Price: $246,532 ($291,807, $299,275, $274,227, $282,448)
Average Days on Market Single Family Home: 77 (81, 96, 90, 76)
Active Condos: 270 (277, 275, 263, 265)
Average Condo Listing Price: $247,715 ($276,345, $280,973, $270,952, $267,268)
Average Condo Selling Price: $243,548 ($274,776, $273,296, $265,170, $259,100)
Average Days on Market Condos: 153 (309, 126, 142, 50)
*Halifax/Dartmouth Absorption Rate (weeks): 36.3 (37, 38.8, 35.8, 31.5)
Make no mistake, the absorption rate only dropped this week due to an inflated expired/canceled/withdrawn statistic. That statistic is high because this time of the month is when listings expire and they're renewed or come off the market completely after their contract is finished. Another factor about this time of year is back to school. With a concentration of getting the little ones off to their classes, the last thing on many parents minds is moving from or buying a property. General market attitude this week remains in a worrisome state as rumors float and fly around about factors involving the ship building contract creating a lack of confidence atmosphere. Looking ahead to the fall market one can only hope that we see the market improve and begin what many speculators hope to be a very lucrative time of year. Did I miss a statistic? Is there a statistic that you would like to see in the weekly blog report? Feel free to leave any suggestions below in the contact form factor stopping by.
Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? 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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9/7/2012 05:33:07 am
Hi...you said in your article "General market attitude this week remains in a worrisome state as rumors float and fly around about factors involving the ship building contract creating a lack of confidence atmosphere. " So what are the rumors about ship building contract? At least no newspaper mentioned anything about ship building contract at all?
9/7/2012 05:58:41 am
Hello NW. Thank you for your question! As I don't report on rumors or speculation I try to keep those negatives out of the blog until they are proven fact. If you would like to contact me direct (phone/email) I would be more than happy to provide the news article from which I speak. Thanks for stopping by!
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Jeremiah Wallace, CD
Jeremiah has been involved with many aspects of the Real Estate industry for over fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
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