My weekly look at the state of the Halifax Real Estate Market
This week I am discussing the Fall River Real Estate Market. Sales in that area are up 13% over last year and price is up a modest 1.3%. If you would like to know the stats for your area or, you are considering buying or selling real estate in Halifax and surrounding areas you can call 902-488-0012 or email andrew@halifaxrealestateguy.com
Related Video Blog Posts
- Monday Market Watch/Sackville Real Estate Market Update
My Weekly look at the state of the Halifax Real Estate Market.
This week I am taking a look at the Fall River Real Estate Market. If you would like to know the stats for your area you can contact me by email me andrew@halifaxrealestateguy.com or call 902-488-0012
Related Video Blog Posts
- Monday Market Watch – Sackville Real Estate Market
How is the Fall River Real Estate market doing in the last 3 months?
Fall River Real Estate Market update for August, September, October 2008 for single family detached and semi-detached homes
| Halifax Real Estate Blog Fall River Market Update | |||||
| Month | Average List Price | Average Sale Price | Sale to List Price | Average List Duration | Number Of Sales |
|---|---|---|---|---|---|
| OCT-2008 | 364392 | 380067 | 104% | 94 days | 12 |
| SEP-2008 | 294159 | 284697 | 97% | 76 days | 17 |
| AUG-2008 | 345033 | 338189 | 98% | 110 days | 9 |
| Averages: | 328387 | 327483 | 100 % | 90 days | 38 |
Fall River Real Estate Market update for August, September, October 2007 for single family detached and semi-detached homes
| Halifax Real Estate Blog Fall River Market Update | |||||
| Month | Average List Price | Average Sale Price | Sale to List Price | Average List Duration | Number Of Sales |
|---|---|---|---|---|---|
| OCT-2007 | 378485 | 361808 | 96% | 63 days | 13 |
| SEP-2007 | 335392 | 324842 | 97% | 99 days | 24 |
| AUG-2007 | 328565 | 324080 | 99% | 99 days | 20 |
| Averages: | 342825 | 333005 | 97 % | 91 days | 57 |
Number of Active Listings – 131
The Fall River Real Estate market has slowed down in the past 3 months. This has been a normal trend in a lot of areas of HRM. Number of sales are down 33 percent over last year, a huge decrease. The average price is also down slightly by 1.7%. Right now we are seeing a buyers market although there doesn’t seem to be a lot of buyers out there. Inventory is up and sales are down. This has to do with a number of factors. The slowing economy and the steady rise in housing prices.
In the coming months I see the trend remaining the same with not a lot of transactions in the Halifax Real Estate Market. This will continue into next year and hopefully we will start to see a turn around next summer. Surprisingly price continues to rise in most areas of Halifax.
Next week we will have a look at the Sackville Real Estate market. If you are looking to buy or sell Real Estate in Halifax send me an email. I will respond promptly.
Related Posts
- Dartmouth Real Estate Market Update
- Bedford/Hammonds Plains Real Estate Update
Andrew Perkins
Your Halifax Real Estate Expert
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
