Halifax Condo MLS® Market Report July 28/2008
Halifax Condo Report for Areas 1 – 40 which encompasses all of HRM for 2008 including new construction
| Halifax Real Estate Blog – Condo Report 2008 | |||||
| Month | Average List Price | Average Sale Price | Sale to List Price | Average List Duration | Number Of Sales |
|---|---|---|---|---|---|
| JUL-2008 | 220769 | 214505 | 97% | 95 days | 65 |
| JUN-2008 | 207291 | 202183 | 98% | 117 days | 73 |
| MAY-2008 | 220137 | 214078 | 97% | 111 days | 88 |
| APR-2008 | 211476 | 205712 | 97% | 132 days | 103 |
| MAR-2008 | 201322 | 195383 | 97% | 98 days | 64 |
| FEB-2008 | 203251 | 198449 | 98% | 107 days | 55 |
| JAN-2008 | 209658 | 204978 | 98% | 132 days | 50 |
| Averages: | 211210 | 205617 | 97 % | 114 days | 498 |
Halifax Real Estate Condo Report for Areas 1 – 40 which encompasses all of HRM for 2007 including new construction
| Halifax Real Estate Blog – Condo Report 2007 | |||||
| Month | Average List Price | Average Sale Price | Sale to List Price | Average List Duration | Number Of Sales |
|---|---|---|---|---|---|
| JUL-2007 | 211521 | 208664 | 99% | 145 days | 58 |
| JUN-2007 | 216900 | 210916 | 97% | 93 days | 88 |
| MAY-2007 | 207318 | 203087 | 98% | 124 days | 114 |
| APR-2007 | 199875 | 195295 | 98% | 155 days | 86 |
| MAR-2007 | 205128 | 200753 | 98% | 192 days | 86 |
| FEB-2007 | 212375 | 207162 | 98% | 182 days | 62 |
| JAN-2007 | 216707 | 211558 | 98% | 124 days | 65 |
| Averages: | 209433 | 204777 | 98 % | 143 days | 559 |
Total Active Halifax Condos – 497
The Condo market has slowed down with regards to number of sales year over year. There are a lot of new builds coming on board now and in the future. The market is currently in a little downturn with regards to number of buyers although average price continues to rise, just slightly year over year. The average days on market are up by 23 days which is a result of all the new builds.
A couple of new builds that I think a potential Condo buyer should be looking at are; Armoury Square, Armoury Villa, Falkland Street Condos and Spice. The Falkland Street condos have already increased prices by 10 – 15K on select units. A good investment for sure! Be sure to check back regularly for more market updates and news. If you are looking to buy or sell Halifax Real Estate be sure to contact me.
Andrew Perkins
Your Halifax Real Estate Expert
Blackberry Bold or Iphone 3G?
Friday is here and I decided to post something a little different. My Friday Random blog post is about the iphone. Should I get one or not? I am up in the air on this one. I love technology and I am very impressed with this latest gadget from Apple. Apple is usually the leader in technology.
One of the major problems as a Realtor I am having with this is; how it will affect my business. I am a current blackberry pearl user which to be honest I like but I am not over the moon about, I think I would prefer the blackberry curve. I hate typing on the pearl. When I purchased this phone it was brand new on the market and I kind of got sold on how it was the next best thing. When RIM (research in motion) comes out with the new Blackberry Bold, I am going to have to take a look at both phones before I make any decisions. I love the idea of the iphone but from talking with friends about it they keep telling me the same thing, the typing function sucks. Can I get over this? I am not sure. One of the things I like about the blackberry is my ability to stay in touch with me clients via text or email when I am away from my computer. A lot of my clients are blackberry users and it makes things a lot easier and communication is a breeze.
So what to do? I am on the fence, I think I may get my friend who works for AML, the authorized dealer for Rogers in Atlantic Canada to take me through the ins and outs of both phones and then I will make my decision. I will keep you posted. Until next time if you’re looking to buy or sell I can be reached on my BLACKBERRY PEARL (for now) at 488-0012.
Andrew Perkins
Your Halifax Real Estate Expert
P.S. If anyone has any suggestions on what I should do feel free to comment
Go Green and Save
So your thinking of selling your home and would like to do a few renovations before you put it on the market or you just bought a new home and would like to do renovations to make it your own.
It’s good to keep abreast of grants that are now available for homeowners who want to go green.
Both the provincial and federal governments have new programs designed to encourage energy reduction. By staying up-to-date on the latest programs, you can save money.
Natural Resources Canada (NRCan) is offering a new residential energy efficiency assessment service to owners of single family homes, including detached, semi-detached and low-rise multi-unit residential buildings (MURBs) that are no more than three storeys high.
Under the ecoENERGY Retrofit program, property owners can qualify for federal grants by improving the energy efficiency of their homes and reducing their home’s impact on the environment.
NRCan-certified energy advisors conduct a detailed on-site assessment of the home’s energy use from the attic down to the basement. They provide a personalized report, including a checklist of recommended retrofits to improve the energy efficiency of your home and, in some cases, to reduce water consumption. The report also shows the grant amounts for each eligible upgrade that you can receive by carrying out these energy-saving improvements. The maximum grant you can receive for a home is $6500.
A high efficiency furnace and many of the other retrofits eligible for rebates come with a higher price tag, but environmentally conscious homeowners believe the energy cost savings – and reduced greenhouse gas emissions – are well worth it. Also, from a resale perspective, many potential home buyers will view “greener” homes as a desirable feature.
If you are thinking about buying, selling or doing renovations you have to check these programs out, not only will it save you money, it will up your resale value as well. For more information contact me ,
Andrew Perkins
Your Halifax Real Estate Expert
Halifax Real Estate MLS® Market Report July 23/2008
1st Half(January to July) 2008 stats for single family detached, semi-detached, and townhouse including new construction for areas 1 through 40 which encompasses all of HRM.
| Halifax Real Estate Blog Market Update 2008 | |||||
| Month | Average List Price | Average Sale Price | Sale to List Price | Average List Duration | Number Of Sales |
|---|---|---|---|---|---|
| JUL-2008 | 264787 | 258183 | 98% | 80 days | 316 |
| JUN-2008 | 258705 | 252530 | 98% | 76 days | 562 |
| MAY-2008 | 268838 | 263096 | 98% | 75 days | 613 |
| APR-2008 | 250189 | 244374 | 98% | 75 days | 558 |
| MAR-2008 | 252573 | 247693 | 98% | 83 days | 381 |
| FEB-2008 | 244055 | 238662 | 98% | 94 days | 345 |
| JAN-2008 | 248036 | 241041 | 97% | 109 days | 255 |
| Averages: | 256484 | 250601 | 98 % | 82 days | 3030 |
1st Half(January to July) 2007 stats for single family detached, semi-detached, and townhouse including new construction for areas 1 through 40 which encompasses all of HRM.
| Halifax Real Estate Blog Market Update 2007 | |||||
| Month | Average List Price | Average Sale Price | Sale to List Price | Average List Duration | Number Of Sales |
|---|---|---|---|---|---|
| JUL-2007 | 247258 | 242797 | 98% | 83 days | 331 |
| JUN-2007 | 246140 | 239302 | 97% | 72 days | 587 |
| MAY-2007 | 245833 | 240716 | 98% | 75 days | 653 |
| APR-2007 | 237912 | 232958 | 98% | 73 days | 538 |
| MAR-2007 | 233692 | 228264 | 98% | 75 days | 464 |
| FEB-2007 | 227927 | 222499 | 98% | 104 days | 357 |
| JAN-2007 | 211957 | 205833 | 97% | 94 days | 293 |
| Averages: | 237902 | 232395 | 98 % | 80 days | 3223 |
Number of Active listings – 2489
Based on these numbers you can see that the market slowing down a little. There has been a 193 fewer homes sold compared to the same time last year, however the average price has increased by 9.4%. Average days on Market remained basically the same year over year.
What do the numbers mean? Well if you are a seller it is a good time to sell as the price increase we have seen in the last few years are still on the rise but most economists are saying the percentage of increase is going to slow in the coming years. If you are buyer it is a good time to buy as the prices are not going to go down anytime soon especially here in Halifax. This market would be considered balanced.
Looking at other areas in Canada like Calgary, Edmonton and Regina we saw huge price increases over the last 3-4 years but it is starting to catch up with their respective markets. Here in Halifax we have been getting a healthy 5-6% increases year over year. We can look forward to another 4-5% increase this year.
I hope this post gave you some insight into local Market conditions. Over the next coming weeks I will be breaking the numbers down by area for Halifax, Dartmouth, Bedford, Hammonds Plains and Sackville as well as updating stats on the local Condo market. Until next time if you are looking to buy or sell Halifax Real Estate contact me.
Andrew Perkins
Your Halifax Real Estate Expert
