The Halifax real estate wrap up weekly edition. Real estate stats, news and more! (Every Thursday)
Halifax (HRM) Residential Market Statistic Update For Week of July 26th to August 2nd 2012
(Previous weeks numbers in brackets)
New Listings: 459 (434, 441, 508, 460)
Sold: 126 (162, 209, 185, 161)
Sale to List Ratio: 28% (37%, 47%, 36%, 35%)
Expired/Cancelled/Withdrawn: 206 (70, 191, 82, 224)
Active Single Family Home: 2958 (2979, 2931, 2959, 2938)
Average Single Family Home List Price: $298,974 ($277,209, $288,808, $308,187, $298,840)
Average Single Family Home Selling Price: $292,142 ($271,132, $281,603, $299,219, $287,605)
Average Days on Market Single Family Home: 94 (93, 81, 72, 84)
Active Condos: 260 (260, 259, 276, 272)
Average Condo Listing Price: $240,071 ($198,147, $222,643, $230,070, $291,935)
Average Condo Selling Price: $232,169 ($192,370, $216,906, $224,458, $279,786)
Average Days on Market Condos: 49 (50, 37, 64, 50)
*Halifax/Dartmouth Absorption Rate (weeks): 28.1 (27.1, 25.8, 26.2, 25.6)
So as we hit the end month/beginning month expire/renew cycle, things stay relatively the same. With lower sales this week its strange how the inventory declined in numbers. I would point the finger at the expired listings for that, listings that came off the market and never renewed. We did see single family home values rise back to the usual average for the year however and their days on market average remains under the 100 day mark which is positive. Condo's remain a hot commodity around Halifax with unwavering values and "days on market" stats but still not a lot of inventory to choose from. We gain a full week on the Halifax absorption rate which bring the grand tally to almost three extra weeks increased from two weeks ago. Things are slowing for the end of the summer but you will have to come back to see what happens when school gets back in...Be sure to scroll down to check the overall market performance for July in both the residential market and the multi-residential market.
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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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