The Weekly Halifax and Dartmouth Real Estate Market Stats and News Report (Every Thursday)
Weekly Residential Market Statistic Update For Week of March 15th to March 22nd 2012
New Listings: 476 (437, 463, 427, 391)
Sold: 166 (169, 131, 166, 153)
Sale to List Ratio: 35% (39%, 28%, 39%, 39%)
Expired/Cancelled/Withdrawn: 63 (93, 82, 140, 42)
Active Single Family Home: 2433 (2368, 2350, 2286, 2278)
Average Single Family Home List Price: $293,979 ($302,404, $289,982, $289,146, $284,346)
Average Single Family Home Selling Price: $288,039 ($296,761, $283,604, $281,824, $274,550)
Average Days on Market Single Family Home: 86 (117, 97, 107, 117)
Active Condos: 257 (253, 259, 249, 250)
Average Condo Listing Price: $243,105 ($249,592, $246,056, $240,412, $226,300)
Average Condo Selling Price: $238,820 ($244,333, $242,613, $236,218, $213,451)
Average Days on Market Condos: 94 (63, 94, 143, 107)
The after March break inventory rush has begun! The soon to be hottest time of the year ramps up with a big new listings stat and biggest hike in the inventory in a single week all year. I talked last week about the reality of multiple offers and the tip over to a "sellers" market. This week has been a confirmation of those theories and discussions with industry confirmation and stories starting to surface. One of the most shocking was a property in a desirable sector of the market that commanded 8 offers and almost 70k over asking price. Its a strange and exciting time in the Halifax real estate market right now. Lots of opportunity and excitement, also a need for caution and thorough research.
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 any of your real estate transaction needs. Feel free to leave a public comment or question below. Contact me if you would like a guest spot on the Halifax Real Estate Blog. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst
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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..
Photo's by Jeremiah