By The Numbers for the Halifax Real Estate Market in 2009
It’s the beginning of the New Year and my first day back at it, so to speak. I am sure everyone is wondering what happened with the Real Estate market in HRM in 2008. I am going to break it down by the numbers and compare it to the last 3 years to give you a better perspective of what happened in 2008 and what the future could possibly hold for 2009.
Halifax Real Estate Market update for areas 1-40 which encompasses all of HRM for single family detatched, semi detached, condos, townhouses, mobile homes and new construction for 2008
Halifax Real Estate Market update for areas 1-40 which encompasses all of HRM for single family detatched, semi detached, condos, townhouses, mobile homes and new construction for 2006.
A Quick Summary
2006 – Average price was $216,125/Number of sales 5371
2007 – Average Price was $229,335/Number of sales 6012
2008 – Average Price was $243,706/Number of sales 5344
Looking at these numbers it is easy to see that the Halifax Real Estate Marketis in great shape going in to 2009. The average price is up 6.1% from 2007 and 12.4% from 2006. Number of sales is down 11% from 2007(which was a recrod year) and stayed the same as 2006. Days on market suprisingly went down each year although we are seeing days on market creep up in the latter part of 2009.
You can look for prices to remain stable for the next couple of months and possibly see a slight increase halfway through the year. The number of sales will again go down, for a number of reasons. 1. The economic downturn and 2. No more zero down mortgages, although this could be offset by low interest rates.
I have some exciting plans for my blog in 2009. Keeping checking back for regular updates.
If you are looking to buy or sell Real Estate in Halifax, Dartmouth and surrounding areas do not hesitate to call me anytime at 902-488-0012.
Related Articles
- Halifax Housing Market Outlook
- Halifax Real Estate Urban Development Update
Andrew Perkins
Your Halifax Real Estate Expert
{ 2 comments… read them below or add one }
Looks like it could be a very healthy year in Halifax, best of luck to you. Out west we are feeling similar challenges I think.
Ryan Philipenko – Edmonton Real Estate Agent
It looks like your market may be starting to soften but of course that would be expected given the low consumer confidence these days. Good reports Andrew and I’m sure it took a great deal of effort to compile all of that data for your readers. Happy New Year!