Halifax (HRM) Residential Market Statistic Update For Week of Dec 20th to Dec 27th 2012
(Previous weeks numbers in brackets) *Last year this week New Listings: 85 (201, 274, 306, 266) *83 Sold: 42 (89, 74, 88, 98) *30 Sale to List Ratio: 49% (44%, 27%, 29%, 37%) *36% Expired/Cancelled/Withdrawn: 87 (152, 126, 307, 102) *86 Active Single Family Home: 2472 (2515, 2629, 2660, 2809) *2186 Average Single Family Home List Price: $280,515 ($325,183, $285,434, $279,346, $293,259) *264k Average Single Family Home Selling Price: $273,624 ($310,464, $277,393, $271,248, $280,652) *256k Average Days on Market Single Family Home: 131 (120, 101, 78, 97) *144 Active Condos: 247 (251, 259, 264, 269) *250 Average Condo Listing Price: $188,140 ($193,105, $299,755, $360,825, $270,911) *185k Average Condo Selling Price: $181,550 ($187,266, $288,211, $343,383, $262,607) *174k Average Days on Market Condos: 55 (51, 149, 50, 72) *78 *Halifax/Dartmouth Absorption Rate (weeks): 56.5 (48.3, 47.1, 46.5, 48.4) This will be the last weekly update for 2012! I hope everyone had a great Christmas! Numbers will be a little skewed this week as the activity was minimal. It looks almost the same as last year this time did, major difference is the sales to list ratio (highest all year this week). Still a surprising amount of positive activity this week as we count down the hours until the new year, and a lot of speculation about the market to come as it approaches. I would like to take the opportunity to wish everyone a happy new year and thanks for the continued support of the blog. It started as a education tool for myself but realized that knowledge is a gift that is best shared! I always tell my clients (and really anyone that will listen) that education is key when it comes to large, life changing decisions, and I think buying or selling property falls into that category. "Expect better, deserve more" is my tag line and I firmly and proudly stand behind those words. So, to the news years resolution... Last year I tried to reduce the amount of fast food consumption and I have to admit that I did just that. Not the easiest task when your constantly on the go but a worthy endeavour none the less. This year I must increase my exercise routine frequency! Whats your new years resolution? Thanks for stopping by and I'll see you in 2013 for the December stats wrap up! 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 (HRM) Residential Market Statistic Update For Week of Dec 13th to Dec 20th 2012
(Previous weeks numbers in brackets) *Last year this week New Listings: 201 (274, 306, 266, 317) *263 Sold: 89 (74, 88, 98, 108) *124 Sale to List Ratio: 44% (27%, 29%, 37%, 34%) *47% Expired/Cancelled/Withdrawn: 152 (126, 307, 102, 115) *146 Active Single Family Home: 2515 (2629, 2660, 2809, 2808) *2326 Average Single Family Home List Price: $325,183 ($285,434, $279,346, $293,259, $313,721) *269k Average Single Family Home Selling Price: $310,464 ($277,393, $271,248, $280,652, $301,240) *262k Average Days on Market Single Family Home: 120 (101, 78, 97, 96) *96 Active Condos: 251 (259, 264, 269, 274) *263 Average Condo Listing Price: $193,105 ($299,755, $360,825, $270,911, $274,761) *251k Average Condo Selling Price: $187,266 ($288,211, $343,383, $262,607, $263,769) *240k Average Days on Market Condos: 51 (149, 50, 72, 69) *140 *Halifax/Dartmouth Absorption Rate (weeks): 48.3 (47.1, 46.5, 48.4, 40.5) Looks like presents weren't the only things being shopped for this week. Hot on the heels of above average stats last week, this week continues the momentum over with some unexpected results. The sales to list ratio is higher then it has been in months which is thanks to a strong sales week and fewer new listing additions to the market. Even though new additions where smaller, sales up and a big number of expired listings came off the market, we still managed to gain a point on the absorption rate. Strange how things work sometimes. The other big stat of the week is the Single Family home sales. For only the second time this year both the average list and prices have hit over the $300,000 mark. This week is the largest average prices overall for the year so far, not really expected for the end of December. Stay tuned this week as the rumour mill has started again with regards to the Irving shipbuilding contract and will report when there is solid information. Just wanted to take this opportunity to wish all of my clients, friends, family, peers and visitors to the blog a Merry Christmas and Happy Holidays! Also a special Happy Holidays to our armed forces at home and abroad and thanks for your service and dedication to the protection of this great country! There are many great charities that you can get involved with this holiday season. Everything counts towards making the holidays special for everyone so keep the spirit of giving alive! 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 (HRM) Residential Market Statistic Update For Week of Dec 6th to Dec 13th 2012
(Previous weeks numbers in brackets) *Last year this week New Listings: 274 (306, 266, 317, 303) *263 Sold: 74 (88, 98, 108, 83) *124 Sale to List Ratio: 27% (29%, 37%, 34%, 27) *47% Expired/Cancelled/Withdrawn: 126 (307, 102, 115, 105) *146 Active Single Family Home: 2629 (2660, 2809, 2808, 2819) *2326 Average Single Family Home List Price: $285,434 ($279,346, $293,259, $313,721, $277,478) *269k Average Single Family Home Selling Price: $277,393 ($271,248, $280,652, $301,240, $266,671) *262k Average Days on Market Single Family Home: 101 (78, 97, 96, 95) *96 Active Condos: 259 (264, 269, 274, 273) *263 Average Condo Listing Price: $299,755 ($360,825, $270,911, $274,761, $312,250) *251k Average Condo Selling Price: $288,211 ($343,383, $262,607, $263,769, 300,416) *240k Average Days on Market Condos: 149 (50, 72, 69, 56) *140 *Halifax/Dartmouth Absorption Rate (weeks): 47.1 (46.5, 48.4, 40.5, 43) Seems as though the nice weather has made for an interesting close to the year. This week may seem like your typical real estate week, except the fact that these numbers are not typical for this time of year (exception being last year). For two consecutive decembers we are seeing solid activity as we approach the holiday break. Last year this time still remains the strongest December week of all time and its in no doubt related to the Irving shipbuilding contract and the sniff of mortgage and interest rate changes. To put it in perspective, the sales to list ratio last year this week (supposedly the worst time to sell) had a higher sales to list ratio then we experienced all 2012! And not just a little. The closest the "spring market" came was a full 10% off the mark. Remember folks, a lot of people will tell you things that they believe to be true without doing the research. The masses parroting "sell in the spring, sell in the spring", but if you have been with the blog long enough or done your research, you know that this may not be the case. The things I report here are based on fact and unbiased statistics. I give my opinion, but in the end the numbers to the talking. Thanks for stopping by! Stay tuned for the multi-residential market report for November coming soon... 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 (HRM) Residential Market Statistic Update For Week of Nov 28th to Dec 6th 2012
(Previous weeks numbers in brackets) *Last year this week New Listings: 306 (266, 317, 303, 352) *303 Sold: 88 (98, 108, 83, 85) *122 Sale to List Ratio: 29% (37%, 34%, 27, 24%) *40% Expired/Cancelled/Withdrawn: 307 (102, 115, 105, 144) *149 Active Single Family Home: 2660 (2809, 2808, 2819, 2810) *2399 Average Single Family Home List Price: $279,346 ($293,259, $313,721, $277,478, $265,361) *245k Average Single Family Home Selling Price: $271,248 ($280,652, $301,240, $266,671, $256,162) *240k Average Days on Market Single Family Home: 78 (97, 96, 95, 74) *89 Active Condos: 264 (269, 274, 273, 279) *269 Average Condo Listing Price: $360,825 ($270,911, $274,761, $312,250, $283,830) *239k Average Condo Selling Price: $343,383 ($262,607, $263,769, 300,416, $275,276) *233k Average Days on Market Condos: 50 (50, 72, 69, 56) *140 *Halifax/Dartmouth Absorption Rate (weeks): 46.5 (48.4, 40.5, 43, 39.6) Looks like the condo inventory is bullet proof! The condo volume has fluctuated no more then 20 points from the 270 mark in either direction all year long, unlike its roller coaster cousin "single family homes" which saw almost 200 properties slashed from the market this week. Inventory additions are on par with last year and sales are still reasonably lower then this week last year. Both of those factors contribute to a mediocre sales to list ratio percent, coming in 11 points shy of last years mark. The one thing to note is that stale condo listings, the ones that had been around for a while and not really going anywhere, started to move. This property desirability had finally caused the necessary sales to start dropping the days on market statistic. We witnessed the high averages of close to 200 days on market slowly dwindle down to double digits where they have roughly remained for the majority of the year. Condo values did see a spike this week and that is caused by the fact that only 8 sold, one being close to the million dollar mark and another at half a million causing that value anomaly. Don't forget to scroll down to check out the November wrap up and stop by tomorrow for a shiny new enhanced listing announcement. 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 inventory 2012 Inventory tapered off again this month following annual trend, however not as drastically as previous years. This is the first month of the year so far that has surpassed three other years inventory totals. Last year this month the inventory took a severe nose dive resulting in a record breaking statistic. Halifax real estate sales 2012 Last month we saw a unusual blip on the overall sales for the month. Turns out it was just that...a blip. Sales this month return to their below average turn out, leaving people wondering when this stat will improve. My prediction is that its not too far away. Halifax real estate average sale (median) price The consistent stat for the year continues its run beating out all other years for average sale value again this month. This stat has held its strength all year which is a positive market factor continuing the "slow but steady" trait of our real estate market here in Halifax. As the year comes to a close, the market shows no signs of either drastic improvement nor drastic decline. We remain on our averages with a little deviation here or there, but nothing completely shocking. As the news keeps rolling in with regards to the Ship building contract and other large scale developments, the impact is bound to take its toll on our economy in a big way soon enough. The new year should bring many surprises and interesting opportunities, so stay tuned as I follow along with the soon to be "investors spotlight" that is the Halifax real estate market. Thanks for stopping by and be sure to come back tomorrow for the Halifax real estate blog weekly wrap up! 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 |
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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