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
This is my very first of many Halifax Real Estate Blog posts in the all new redesigned halifaxrealestateguy.com. The blog is going to be your source to keep up to date with all the news, stats and happenings in the market.
I am very excited to have recently become a member of the National Association of Green Realtors! I have completed my first 2 online courses and I am working towards my accreditation. I will be posting on issues and trends in Green Real Estate here in Halifax and globally. If you have any questions regarding Green Real Estate and how, you the Buyer or Seller can benefit from my expertise in this field by all means drop me a line.
As well I am going keep abreast of all the new happenings with Halifax Condo projects that are coming on board in the coming years. Halifax has several new condo buildings being built and new ones that are breaking ground. Stay tuned for regular updates on the local Halifax Real Estate condo market.
Another area I will be covering is local market conditions. I will be doing year over year comparisons so you the Halifax home buyer or seller can get an idea of what the market is doing and how it will effect the sale or purchase of your next home.
To keep up to date on the latest Halifax Real Estate news and trends be sure to click the button in the top right corner “grab our RSS feed” and you will be notified immediately of any new blog posts. I am looking forward to this new venture and I hope you the reader will benefit from it. If you are looking to buy or sell Halifax Real Estate contact me and I would be happy to help. Thanks again.
Andrew Perkins
Your Halifax Real Estate Expert
