The Weekly Halifax Real Estate Statistics Report and News Update (Every Thursday)

Weekly Residential Market Statistic Update For Week of April 12th to April 19th 2012

New Listings:  539 (463, 673, 552, 476)
Sold:  189 (149, 166, 155, 166)
Sale to List Ratio: 35% (32%, 25%, 28%, 35%)
Expired/Cancelled/Withdrawn:  77 (79, 167, 64, 63)
Active Single Family Home: 2796 (2742, 2670, 2557, 2433)
Average Single Family Home List Price:  $298,168 ($294,434, $288,845, $288,847, $293,979)
Average Single Family Home Selling Price:  $294,101  ($291,162, $281,360, $280,391, $288,039)
Average Days on  Market Single Family Home: 75 (85, 96, 83, 86)
Active Condos:  223 (233, 249, 257, 253)
Average Condo Listing Price:  $273,494  ($266,329, $248.003, $264,309, $243,105)
Average Condo Selling Price: $268,400 ($259,655, $243,167, $259,090, $238,820)
Average Days on Market Condos:  97 (152, 102, 120, 94)

If you own a condo in Halifax and are thinking of selling it, now might be the time. Condo values are at an all time high, demand is way up and inventory is low and only getting lower. With entry level single family home prices and lacking availability in desired areas, buyers are finding themselves considering location over property and opting for budget wise condominiums. Some bigger condo projects are being developed and others are still being planned but the question remains if and when they hit the market, how high will the demand be at that point or will the lacking inventory cause a frenzy for these desired units. Clearly, this is one more element of the Halifax real estate market that we will have to keep a watchful eye on!

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


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