Residential*

February 2012

Average Sale Price – $269,455

Number of Sales – 447

% vs Feb 2011(price) –  -2.27%

% vs Fen 2011(sales) -  +42.4%

Average Days on Market – 97

Active Listings – 2158

Absorption Rate – 20.9 weeks

Type of Market – Sellers

Multi-Family**

February 2012

Average Price – $385,492

Number of Sales – 13

% vs Feb 2011(price) –  +28.8%

% vs Feb 2011(sales) –  +44%

Average Days on Market – 114

Active Listings – 52

Absorption Rate – 17.3 weeks

Type of Market – sellers

* Includes single family homes and condominiums

** Includes multi- family homes 2-12 units

Synopsis

Residential

The month of February was a very busy month in the Halifax real estate market.  With 447 sales it was one of the strongest February months on record. Although we did see a price decrease for the first time in a long time.  Albeit only a 2.2% drop.  With that number of sales it is easy to see why.  It is a crazy market out there right now with lots of inventory moving and for the first time in several years we are actually experiencing a sellers market.

Multi-Family

Investment properties in HRM saw average price increase by a whopping 28.8% compared to February 2011.  Number of sales were also up by 44%.  We are starting to see some movement in this market segment. The inventory is still quite low for investment properties and like single family homes and condos we are also in a sellers market.

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

Kind Regards,

Andrew Perkins

Halifax Real Estate Guy

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

On day 3 of the 2010 year in review wrap up week I am taking a look at the numbers for the Bedford Real Estate market.  Both average price and number of sales increased at a strong pace.
If you would like more information on the HRM real estate market you can always contact me by email andrew@halifaxrealestateguy.com or call 902-488-0012

Related Video Blog Posts

-Halifax Real Estate Market Update 2010

-Dartmouth Real Estate Market Update 2010

This week on Market Watch Wednesday I am taking a look at the year to date stats for the Bedford Real Estate Market.  Bedford has always been a solid market to buy in and this year is no different.  Both price and sales are up year over year.
If you would like more information on any area of the Halifax Real Estate Market you can always contact me by email andrew@halifaxrealestateguy.com or call 902-488-0012

Related Video Blog Posts

- Market Watch Wednesday/09/09/10

- Market Watch Wednesday/09/02/10

- Market Watch Wednesday/08/25/10

Related Video Blog Posts

- Introducing Halifax Real Estate Guy TV

- Halifax Condo Fridays/Interview with Real Estate Condo Lawyer Pat Cassidy

If you would like more information on the Halifax Real Estate Market you can always contact me by email andrew@halifaxrealestateguy.com or call 902-488-0012

Related Video Blog Posts

- Market Watch Wednesday/Halifax Condo Market Update

- Market Watch Wednesday/Interview with Mortgage Consultant Scott Walker

- Market Watch Wednesday/Halifax Peninsula Market Update

Day 3 of HRM Real Estate Market Watch week I am taking a look at the stats for the Clayton Park/Bedford area.  Prices have increased modestly and sales have basically remained unchanged from 2008.
If you are thinking of buying, selling or would like general information on the Halifax Real Estate Market you can always contact me by email andrew@halifaxrealestateguy.com or call 902-488-0012.
Be sure to tune in tomorrow when I will be updating the Fairview/Spryfield Real Estate Market for 2009.

Related Video Blogs Posts

- Day 1 Market Watch Week/Peninsula Of Halifax Market Update

- Day 2 Market Watch Week/Dartmouth Real Estate Market Update

On Day 4 of Halifax Condo week I am visiting the Dockside Condo development in Bedford.  The project is currently in the pre-sale stage and is over 50% sold.
If you would like more information on this great project you can contact me by email andrew@halifaxrealestateguy.com or call 902-488-0012.

Related Halifax Condo Week Video Blogs

- Day 1 Halifax Condo Week/Interview with Halifax Condo Lawyer Pat Cassidy

- Day 2 Halifax Condo Week/Market Watch Wednesday/Condo Update

- Day 3 Halifax Condo Week/ Kings Wharf Update

This week I am discussing the Bedford Real Estate Market.  After a slow start to the year the Bedford Real Estate Market is starting to stabilize.   Prices have increased by 3.6% and the number of sales remained steady over the same period last year.  If you would like more information on your particular area you can email me andrew@halifaxrealestateguy.com or call 902-488-0012.

Related Video Blogs

- Monday Market Watch/Bedford Real Estate Market Update April 2009

- Monday Market Watch/Dartmouth Real Estate Market Update

The Parks of West Bedford is an exciting new Halifax Real Estate development set to begin construction in the summer of 2010.  It will feature 5 residential neighborhoods and include 6000 homes and 18000 residents.  Lots go on sale in October 2009.  If you would like more info on this or any other Halifax Real Estate Development you can call 902-488-0012 or email andrew@halifaxrealestateguy.com.

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- Halifax Real Estate Guy discusses Home Energy Audits

- Monday Market Watch/ Ist Half Stats