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
New Listings – 204
Number of Active Listings – 3055
Absorption Rate – 32 weeks
Type of Market –Buyers market
The number of new listings were up compared to last week. With only 381 sales last month(Aug 25-Sept 25) the market has shifted to a strong buyers market.
As always feel free to contact me for more information on the Halifax real estate market by email andrew@halifaxrealestateguy.com or call 902-488-0012.
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The weekly sales were down significantly compared to the same week in 2009 and 2010. The number of sales last week totaled 75
Figure 1. All numbers based on MLS® statistics, single family homes and condominiums for areas 1-40 which encompass all of HRM
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Average price was was up significantly compared to 2009 and 2010. The average price last week was 284K.
Figure 2. All numbers based on MLS® statistics, single family homes and condominiums for areas 1-40 which encompass all of HRM
Related Video Blog Posts
New Listings – 251
Number of Active Listings – 3057
Absorption Rate – 30 weeks
Type of Market –Buyers market
The number of new listings were up compared to last week. With only 433 sales last month(July 20-Aug 20) the market is starting to shift to a strong buyers market.
As always feel free to contact me for more information on the Halifax real estate market by email andrew@halifaxrealestateguy.com or call 902-488-0012.
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The weekly sales were down significantly compared to the same week in 2009 and 2010. The number of sales last week totaled 73
Figure 1. All numbers based on MLS® statistics, single family homes and condominiums for areas 1-40 which encompass all of HRM
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Average price was down compared to 2010 but up significantly compared with 2009. The average price last week was 267K.
Figure 2. All numbers based on MLS® statistics, single family homes and condominiums for areas 1-40 which encompass all of HRM
Related Video Blog Posts
-Week in Review Aug 6th-12th,2011
-Week in Review July 29th-Aug 5th, 2011
-Week in Review July 2nd-July 8, 2011
New Listings – 227
Number of Active Listings – 3005
Absorption Rate – 29 weeks
Type of Market –Buyers market
The number of new listings continue to hover around the 3000 mark. Based on the number of sales last month(448) the absorption has increased to 29 weeks and now represents a buyers market
As always feel free to contact me for more information on the Halifax real estate market by email andrew@halifaxrealestateguy.com or call 902-488-0012.
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The weekly sales were down compared to the same week last year and again down significantly compared to 2009. The number of sales last week totaled 71.
Figure 1. All numbers based on MLS® statistics, single family homes and condominiums for areas 1-40 which encompass all of HRM
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Average price decreased slightly compared with 2010 but was up compared significantly compared with 2009. The average price last week was 295K.
Figure 2. All numbers based on MLS® statistics, single family homes and condominiums for areas 1-40 which encompass all of HRM
Related Blog Posts
-Week in Review July 2nd-July 8, 2011
-Week in Review June 25-July 1,2011
-Week in Review June 18-24,2011
