2011 Halifax Real Estate Market Year in Review

2011 Halifax Real Estate Market Year in Review.  The numbers below are based on MLS® statistics for areas 1-40 which encompass all of HRM.  If you would like a market report on a specific area of Halifax, Dartmouth, Bedford, Sackville, Hammonds Plains or Fall River please fill out this form

Residential*

2011

Average Sale Price – $275,321

Number of Sales – 5182

% vs 2010(price) -  +3%

% vs 2010(sales) -  +3.7%

Average Days on Market – 95

Active Listings – 2817

Type of Market – Buyers

Multi-Family**

2011

Average Price – $359,638

Number of Sales – 119

% vs 2010(price) -  -2%

% vs 2010(sales) -  -12.5%

Average Days on Market – 136

Active Listings – 52

Type of Market – buyers

* Includes single family homes and Condominiums

** Includes multi- family homes 2-12 units

Synopsis

Residential

As in recent years we see a similar trend continue in the Halifax Real Estate Market in that average price has continued to increase at a modest pace of 3%.  However for the first time since 2009 we actually see the number of sales increase by 3.7%.  This is largely due to increase in home sales in the last quarter of 2011.  With the recent announcement of the ship building contract you can look for these numbers to continue in 2012 with a strong possibility of those numbers increasing.

Multi-Family

Investment properties in HRM saw both average price and sales decrease in 2011.  This can be attributed to the new mortgage rules for investment properties that was legislated in 2010.  The fact that you need to have a down payment of 20% for a non-owner occupied investment property has really changed that market segment.

If you would like more information on the Halifax Real Estate market I can be easily reached by email andrew@halifaxrealestateguy.com of by phone 902-488-0012.

Kind Regards,

Andrew Perkins

Halifax Real Estate Guy

 


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