THE HALIFAX WEEKLY REAL ESTATE MARKET STATISTIC AND NEWS UPDATE (EVERY THURSDAY)

Halifax (HRM) Residential Market Statistic Update For Week of Sept 27th to Oct 4th 2012
(Previous weeks numbers in brackets)

New Listings:  441 (415, 423, 429, 378)
Sold:  120 (125, 121, 143, 119)
Sale to List Ratio: 27% (30%, 29%, 33%, 31%)
Expired/Cancelled/Withdrawn:  302 (85, 114, 95, 258)
Active Single Family Home: 2965 (3052, 3030, 3010, 2988)
Average Single Family Home List Price:  $279,834 ($273,284, $281,482, $289,334, $254,729)
Average Single Family Home Selling Price:  $271,930 ($268,200, $274,346, $282,428, $246,532)
Average Days on  Market Single Family Home: 80 (101, 88, 81, 77)
Active Condos:  309 (303, 293, 285, 270)
Average Condo Listing Price:  $259,766  ($294,280, $225,261, $227,835, $247,715)
Average Condo Selling Price: $254,988 ($284,650, $216,050, $222,832, $243,548)
Average Days on Market Condos:  304 (63, 75, 141, 153)
*Halifax/Dartmouth Absorption Rate (weeks):  38 (39.2, 37.2, 36.4, 36.3)

And just like that we start to see the rapid decline of the Single Family Home inventory. I do believe that was the single largest expired listings number to come off the market in a week all year long! Condo's however did not follow suit and actually made a 6 listing addition. This week keeps the "large addition of weekly inventory" going strong with a 30 new listing increase over last year at this time. Home values remain strong this week with a 20k increase from last year and sold listings remain at parity with the amount of sold listings from 2011. As reported from the September monthly report (scroll down) inventory is following the annual downward trend right now but is still experiencing lower then normal statistics. The absorption rate shed a week off of this weeks tally all thanks to that huge amount of expired listings which is actually down from this time last year by 41 units. So we remain in a mixed market this week with no real signs of change on the horizon. General market attitude this week is renewed  positivity with all this new listing action going on, never a dull moment. Don't miss the September monthly wrap up (scroll down) and be sure to check back next week for the Halifax multi-residential statistics report. Thanks for stopping by!  

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