Halifax Real Estate Market Month in Review – February 2012. 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*
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
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
This week on market watch Wednesday I am taking a look at the numbers for the Halifax real estate market for the month of May. Again we see a similar trend, average price continues to increase and number of sales declined.
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 Multi-Family Market Update
-Market Watch Wednesday/Halifax Condo Market Update April 2011
-Market Watch Wednesday/Halifax Real Estate Market Update April 2011
HRM Real Estate Market 2010 Year in Review
On day 6 of the 2010 year in review wrap up week I am taking a look at the numbers for the Fall River Real Estate market. Average price rose significantly and the number of sales decreased over 2009.
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
-Hammonds Plains Real Estate Market Update 2010
-Sackville Real Estate Market Update 2010
-Halifax Real Estate Market Update 2010
