THE HALIFAX WEEKLY REAL ESTATE STATS AND NEWS REPORT. HALIFAX REAL ESTATE STARTS HERE!

Halifax (HRM) Residential Market Statistic Update For Week of June 28th to July 5th 2012

New Listings:  460 (488, 511, 507, 544)
Sold:  161 (186, 206, 195, 183)
Sale to List Ratio: 35% (38%, 40%, 39%, 34%)
Expired/Cancelled/Withdrawn:  224 (81, 114, 87, 162)
Active Single Family Home: 2938 (2997, 2968, 2982, 2962)
Average Single Family Home List Price:  $298,840 ($292,136, $290,506, $291,325, $271,865)
Average Single Family Home Selling Price:  $287,605  ($284,278, $284,057, $285,079, $265,392)
Average Days on  Market Single Family Home: 84 (69, 92, 79, 78)
Active Condos:  272 (265, 267, 259, 261)
Average Condo Listing Price:  $291,935  ($243,605, $281,089, $276,180, $256,640)
Average Condo Selling Price: $279,786 ($233,500, $265,200, $267,952, $226,373)
Average Days on Market Condos:  50 (91, 101, 37, 80)
*Halifax/Dartmouth Absorption Rate (weeks):  25.6  (25.5, 25, 25.5, 25.3)

And we're back! Inventory took a dive this week thanks to a huge number of expired listings (183 to be exact). Some of those expired listings would have been renewed by property owners holding out for a sale and others would have just let their listing expire to try again later. Judging by the fall in inventory, I would say the latter would be the majority. Single family home prices made a rebound this week but the spread from list to sale price widened over the 10k mark. As usual, condos had a strong showing this week with good sales numbers, increased value and less time spent on the market. Sales overall are still quite measly and it doesn't appear that is going to change anytime soon. I'm still betting on a late market show as it coincides with my "secret time of the year" to sell. Don't forget to check out the monthly stats report for June (below) to see just how abysmal the sales where! Even with the sales at an all time low, our real estate market is still healthy and consistent. Whats your thoughts?
 
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