Halifax (HRM) Residential Market Statistic Update For Week of Jan 24th to Jan 31st 2013
(Previous weeks numbers in brackets) *Last year this week New Listings: 365 (330, 394, 331, 206) *416 Sold: 100 (78, 78, 58, 49) *117 Sale to List Ratio: 27% (24%, 20%, 18%, 24%) *28% Expired/Cancelled/Withdrawn: 87 (98, 136, 82, 453) *155 *Total Active Halifax/Dartmouth Inventory: 3,828 (3,749, 3,697) Active Single Family Home: 2480 (2427, 2402, 2342, 2264) *2236 Average Single Family Home List Price: $301,393 ($337,942, $291,321, $270,099, $312,035) *295k Average Single Family Home Selling Price: $291,510 ($326,260, $279,929, $264,910, $302,069) *287k Average Days on Market Single Family Home: 114 (136, 133, 100, 89) *86 Active Condos: 288 (272, 261, 239, 241) *255 Average Condo Listing Price: $291,922 ($391,216, $331,385, $367,287, $514,900) *239k Average Condo Selling Price: $288,133 ($381,900, $322,707, $356,087, $497,826) *224k Average Days on Market Condos: 76 (94, 125, 192, 608) *135 *Halifax/Dartmouth Absorption Rate (weeks): 53 (61.8, 70.6, 65.4, 59.7) Once again we have improved market factors this week as January comes to a close. This week marks the first time this year that sold listings hit over three digits. Its also the highest sales to list ratio and lowest absorption rate we have seen in over a month. Single family home values remain strong coming in just over the 300k mark, a trend that I predict we will average throughout the year. There was only a couple times last year that the average single family home selling price tipped over that margin, but I have a feeling it will become more often then not as we have already witnessed a steady increase of these averages over the past six months. So things are looking up as we head in to February on a positive note, and put the first real estate market month of 2013 in the books. Make sure to stop by tomorrow as its monthly statistic round up day! The January 2013 monthly report will be posted tomorrow so come back to see how current market compares to the last seven years! Thanks for stopping by! Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary property appraisal or you can 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 and friend me on Facebook :) Newest blog post HERE Halifax Real Estate Halifax (HRM) Residential Market Statistic Update For Week of Jan 17th to Jan 24th 2013
(Previous weeks numbers in brackets) *Last year this week New Listings: 330 (394, 331, 206, 85) *380 Sold: 78 (78, 58, 49, 42) *115 Sale to List Ratio: 24% (20%, 18%, 24%, 49%) *30% Expired/Cancelled/Withdrawn: 98 (136, 82, 453, 87) *70 *Total Active Halifax/Dartmouth Inventory: 3,749 (3,697) Active Single Family Home: 2427 (2402, 2342, 2264, 2472) *2207 Average Single Family Home List Price: $337,942 ($291,321, $270,099, $312,035, $280,515) *330k Average Single Family Home Selling Price: $326,260 ($279,929, $264,910, $302,069, $273,624) *318k Average Days on Market Single Family Home: 136 (133, 100, 89, 131) *86 Active Condos: 272 (261, 239, 241, 247) *256 Average Condo Listing Price: $391,216 ($331,385, $367,287, $514,900, $188,140) *202k Average Condo Selling Price: $381,900 ($322,707, $356,087, $497,826, $181,550) *199k Average Days on Market Condos: 94 (125, 192, 608, 55) *104 *Halifax/Dartmouth Absorption Rate (weeks): 61.8 (70.6, 65.4, 59.7, 56.5) Another step in the right direction this week with improvement on most market indicators. Despite the frigid weather this week, buyer activity is still positive with good sales and increased inquiries. It is however still a "buyers market" for most of the HRM, but with improving sales and those pesky "stale" listings starting to move, we may yet see a complete shift in listing availability for all of the HRM and not just the "hot spots". Single family home value is the highest it has ever been this week but the stats on a weekly basis right now are a little messed up as there is not as many sold listings to draw a proper average from. That will improve over the next few weeks...Another positive note is that the absorption rate has finally started to decline! This statistic is crucial in the market formula to indicate just which direction we are headed. Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary property appraisal or you can 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 and friend me on Facebook :) Newest blog post HERE Halifax Real Estate Halifax (HRM) Residential Market Statistic Update For Week of Jan 10th to Jan 17th 2013
(Previous weeks numbers in brackets) *Last year this week New Listings: 394 (331, 206, 85, 201) *399 Sold: 78 (58, 49, 42, 89) *93 Sale to List Ratio: 20% (18%, 24%, 49%, 44%) *23% Expired/Cancelled/Withdrawn: 136 (82, 453, 87, 152) *94 *Total Active Halifax/Dartmouth Inventory: 3697 Active Single Family Home: 2402 (2342, 2264, 2472, 2515) *2170 Average Single Family Home List Price: $291,321 ($270,099, $312,035, $280,515, $325,183) *269k Average Single Family Home Selling Price: $279,929 ($264,910, $302,069, $273,624, $310,464) *263k Average Days on Market Single Family Home: 133 (100, 89, 131, 120) *109 Active Condos: 261 (239, 241, 247, 251) *248 Average Condo Listing Price: $331,385 ($367,287, $514,900, $188,140, $193,105) *257k Average Condo Selling Price: $322,707 ($356,087, $497,826, $181,550, $187,266) *249k Average Days on Market Condos: 125 (192, 608, 55, 51) *157 *Halifax/Dartmouth Absorption Rate (weeks): 70.6 (65.4, 59.7, 56.5, 48.3) Theres a new statistic added to the weekly wrap up, total active Halifax and Dartmouth inventory. It will be a good indicator to track market share in the HRM area. So it looks like the new years blues have worn off as our numbers start returning to normal this week. The sales to list ratio made a two point come back after three weeks of decline and property sales are up for the third week in a row. New inventory additions are up, property values are settling out and days on market are starting to average out as well. Even with most of the numbers returning to normal, the absorption rate gained an additional five weeks making this week the highest this stat has been since being tracked by the blog early last year. Buyer activity has begun but with this not so wonderful weather we have been experiencing, I wonder if this new year buzz will go into hibernation? Whats your thoughts? Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary property appraisal or you can 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 and friend me on Facebook :) Newest blog post HERE Halifax Real Estate Halifax (HRM) Residential Market Statistic Update For Week of Jan 3rd to Jan 10th 2013
(Previous weeks numbers in brackets) *Last year this week New Listings: 331 (206, 85, 201, 274) *401 Sold: 58 (49, 42, 89, 74) *75 Sale to List Ratio: 18% (24%, 49%, 44%, 27%) *19% Expired/Cancelled/Withdrawn: 82 (453, 87, 152, 126) *257 Active Single Family Home: 2342 (2264, 2472, 2515, 2629) *2145 Average Single Family Home List Price: $270,099 ($312,035, $280,515, $325,183, $285,434) *262k Average Single Family Home Selling Price: $264,910 ($302,069, $273,624, $310,464, $277,393) *257k Average Days on Market Single Family Home: 100 (89, 131, 120, 101) *115 Active Condos: 239 (241, 247, 251, 259) *258 Average Condo Listing Price: $367,287 ($514,900, $188,140, $193,105, $299,755) *244k Average Condo Selling Price: $356,087 ($497,826, $181,550, $187,266, $288,211) *233k Average Days on Market Condos: 192 (608, 55, 51, 149) *114 *Halifax/Dartmouth Absorption Rate (weeks): 65.4 (59.7, 56.5, 48.3, 47.1) Not the greatest start to the new year but a start none the less. Looks like we take a page out of last years book with the stats pretty much in line with this time last year. All the stats are slightly down from last year except for single family home values which tends to keep its average percentage gain steadily throughout the year. On a non-Halifax real estate market topic, I would like to ask the visitors of the site to provide me with some feedback for the new year. Is there any improvements, stats or reports that you would like see on a daily/weekly/monthly basis? After receiving a little encouragement from a respected peer of mine, I will be adding a video blog shortly that will cover statistic updates and general Halifax real estate news. Thanks for stopping by! Oh, and for all of you savvy real estate investors out there be sure to check out my new 15 Unit Multi-Residential listing HERE. Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary property appraisal or you can 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 and friend me on Facebook :) Newest blog post HERE Halifax Real Estate Halifax (HRM) Residential Market Statistic Update For Week of Dec 27th to Jan 5th 2013
(Previous weeks numbers in brackets) *Last year this week New Listings: 206 (85, 201, 274, 306) *375 Sold: 49 (42, 89, 74, 88) *68 Sale to List Ratio: 24% (49%, 44%, 27%, 29%) *18% Expired/Cancelled/Withdrawn: 453 (87, 152, 126, 307) *450 Active Single Family Home: 2264 (2472, 2515, 2629, 2660) *2070 Average Single Family Home List Price: $312,035 ($280,515, $325,183, $285,434, $279,346) *295k Average Single Family Home Selling Price: $302,069 ($273,624, $310,464, $277,393, $271,248) *283k Average Days on Market Single Family Home: 89 (131, 120, 101, 78) *119 Active Condos: 241 (247, 251, 259, 264) *242 Average Condo Listing Price: $514,900 ($188,140, $193,105, $299,755, $360,825) *248k Average Condo Selling Price: $497,826 ($181,550, $187,266, $288,211, $343,383) *237k Average Days on Market Condos: 608 (55, 51, 149, 50) *172 *Halifax/Dartmouth Absorption Rate (weeks): 59.7 (56.5, 48.3, 47.1, 46.5) ITS ANOMALY WEEK! The stats are a little out of sorts this week with a few factors contributing. End of the year brought in an extraordinarily large amount of expired listings. Much like the end of the month expire/re-list song and dance that I have talked about in previous posts, but this one is on a much larger scale. Not much detail to go into this week, I mean look at the condo stats, totally warped by the three sold properties this week. Thats almost Vancouver prices! (ya right). So we will take the mulligan this week in hopes that next week returns to normal. Make sure to check out the December monthly statistics wrap up by scrolling down. Thanks for stopping by! Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary property appraisal or you can 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 and friend me on Facebook :) Newest blog post HERE Halifax Real Estate HAPPY NEW YEAR EVERYONE!!Halifax Residential Average Sold Price For December 2012 Almost made a clean sweep this year with average sale prices...almost. Other then the December value drop, the remainder of the year held annual trend by slightly surpassing the previous years values. The overall value increase has stayed marginal ranging anywhere from 0.9 to 11%. Halifax Residential Inventory For December 2012 Inventory never really fully recovered from the impact of the final months of 2011. After the Irving shipbuilding contract was announced there was a noticeable spike in activity which caused the lowest numbers in years! Halifax Residential Sales For December 2012 What do we say about sales this year? Not easy to predict? Not really the anticipated outcome? Slow? All these things and more have painted the "Sales" canvas this year with December putting the final nail in the annual coffin with the lowest amount of sales not only for the year, but every month and year for over a decade. Not really the type of sales year you would expect in the wake of such a large announcement to the economic boost of our city, but an announcement is all that there was. Details of the contract are still being worked out and work start dates are yet to be announced. That combined with lower then usual inventory selection, higher property prices and the brilliant mortgage rules changes pushed many in the "entry level/first time home buyers" bracket out of the market. These factors, as well as many others, have been instrumental in the demand and lack of availability in the rental market. The Halifax real estate market had interesting developments this year and it was almost as if 2012 was the deep breath before a dive. I think this year is going to be just as interesting as the last and I predict that by the end of the year we should be seeing the impact of a new market. Whats your thoughts? Make sure to come back Thursday for the weekly wrap up and the Multi-Residential report for December will be released shortly as well. Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary property appraisal or you can 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 and friend me on Facebook :) Newest blog post HERE Halifax real estate |
Jeremiah Wallace, CDJeremiah 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.. ListingsPhoto's by Jeremiah
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