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 4 of the 2010 year in review wrap up week I am taking a look at the numbers for the Sackville/Beaverbank Real Estate market. Average price continues to rise 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

-Halifax Real Estate Market Update 2010

-Dartmouth Real Estate Market Update 2010

-Bedford Real Estate Market Update 2010

This week on Market Watch Wednesday I am taking a look at the stats for the Sackville Real Estate Market.  Both average price and sales are up over last year.
If you would like more information 0n 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/06/10/10

- Market Watch Wednesday/06/04/10

- Market Watch Wednesday/05/27/10

Day 6 of HRM Real Estate Market Watch week I am taking a look at the stats for 2009 in the Sackville Real Estate Market.  Prices have increased 3.6% and sales have increased slightly compared to 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 Fall River Real Estate Market for 2009.

Related Video Blog Posts

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

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

- Day 3 Market Watch Week/Bedford/Clayton Park Real Estate Market Update

- Day 4 Market Watch Week/Fairview/Spryfield Real Estate Market Update

- Day 5 Market Watch Week/Hammonds Plains Real Estate Market Update

Today I am discussing the stats for the Sackville Real Estate Market. Prices have stayed pretty much the same year over year but the number of sales have increased by 8.5%. This is a good sign that the market is starting to pick up again. If you would like more information or would like to know the stats for your area you can call 902-488-0012 or email andrew@halifaxrealestateguy.com

Related Video Blog Posts

- Monday Market Watch/Dartmouth Real Estate Market

- Monday Market Watch/ Bedford Real Estate Market

- Monday Market Watch/New Home Construction

This week I am taking a look at the Sackville Real Estate Market.  If you would like more information on the stats for your area you can contact me 902-488-0012 or email andrew@halifaxrealestateguy.com.

Related Video Blog Posts

- Monday Market Watch – Absorption Rates

- Monday Market Watch – Bedford Real Estate Market

- Monday Market Watch – Dartmouth Real Estate Market

Sackville Real Estate Market update for August, September, October 2008 for single family detached and semi-detached homes.

Sackville Real Estate Market update for August, September, October 2007 for single family detached and semi-detached homes.

Number of Active Listings = 216

The Sackville Real Estate continues to be one of the fastest growing markets in HRM.  Average sale price continues to rise, the last three months by 7.3%.  Unlike many other areas of HRM which saw a sharp decline in the number of sales, Sackville only declined by 1 sale.  Days on market are up by 4 days.  I attribute this to Sackville still remaining affordable.  For what you get in Sackville for your money and what you get in Halifax, Bedford, Hammonds Plains, there really is no comparison.

If you are interested in Sackville Real Estate or have any questions regarding Real Estate in Halifax and surrounding areas contact me at 488-0012.

Related Articles

- Dartmouth Real Estate Market Update

- Fall River Real Estate Market Update

Andrew Perkins

Your Halifax Real Estate Expert

Source: MLS data

The Halifax Real Estate market has had a very steady rise in price since the turn of the century.  The number of sales has remained relatively the same over that period.  This year we are on pace to be slightly behind last year’s numbers which were a record.  I do see this trend slowing a little in the future due to the financial turmoil in the world markets, however I think Halifax will still remain as one of the healthiest Real Estate Markets in Canada.  Some of the factors that I feel gives the Halifax Real Estate Market such promise are;

1) Gateway port

2) Military/Navy

3) University city

4) Hub for Atlantic Canada

5) IT sector

When I say that the market is going to slow I am referencing the number of sales.  I do not see prices going down in the foreseeable future.  Now is not the time to wait for that to happen in Halifax. The prices here are far below other cities in Canada and have a lot of room to grow.

If you are in the market to buy or sell do not hesitate to contact me.

Related Posts

- Halifax Economic Growth Rate Looks Great

- Halifax Real Estate 3rd Quarter Stats

Andrew Perkins

Your Halifax Real Estate Expert

Sales for the third quarter down 5% year over year and trail 2007 by 7.3% up to and including the third quarter.

Number of sales 2008 = 5325   Number of sales 2007 = 5746

Active Listings are up 16 percent

The only area that had a slight increase in sales was Dartmouth up 2.8% year over year.

Fall River, Bedford, Sackville,  Hammonds Plains all recorded double digit declines in the number of sales year over year.

Despite the declines, sales in the third quarter remain at the second highest on record and average price growth remained steady at 6.7%

Areas of Note

Sackville – average price rose by 13%

Halifax North End - 10.5% average price increase

Halifax South End – 19.7% average price increase

Fall River – 9.4% average price increase

Crichton Park/Albro Lake – 13.9% average price increase

Spryfield – 22.4% average price increase

Average days on Market down by 5 days from 84

The Halifax Real Estate Market remains healthy through the 3rd quarter of 2008.  Most forecasters were predicting a 2-3% price increase and we continue to see a 6-7% percent increase.  What does all this mean? If you are buyer it is a great time to buy.  Prices are continuing to rise and inventory is high, thus it is a buyers market. If you are sitting on the fence now is not the time to wait.  Our economy in Halifax remains strong in the face of all the financial turmoil going on around the world.  If you would like more information on this, or you are looking to buy or sell Halifax Real Estate, Contact me anytime.

Related Posts

- Halifax Economic Growth Rate Looks Great

- Provincial Home Sale Stats

Andrew Perkins

Your Halifax Real Estate Expert

Today I figured I would look at something a little different.  I have many clients who have and are actively looking for multi unit buildings as another way to enhance cash flow.  There are things you need to look for when thinking of purchasing a multi unit rental.  Firstly you have to make sure that the building generates income, a lot of multi units on the market today just won’t carry themselves and they are better served as an owner occupied so someone will help with the mortgage.  I always advise my clients to look at the net income(rent minus heating, maintenance, and other expenses associated with the property).  A general rule of thumb is if the net income is 10% of the purchase price it is definitely a building worth taking a closer look at.  Secondly, what a lot of my clients look for and I recommend is electric heat and separate electrical meters.  This way the heating and electricity of the units can be passed off onto the tenant.  Obviously there are many other factors to look at but these are the main ones to keep in mind.

Lets take a look at the numbers over the years.

From Aug 20,2006 – Aug 20,2008 for area 1-40 which encompass all of HRM for multi unit buildings, 4 units or less.

number of sales – 330

average sale price – $274,920

number of days on market – 72 days

From Aug 20,2004 – Aug 20,2006 for area 1-40 which encompass all of HRM for multi unit buildings, 4 units or less.

number of sales – 282

average sale price – $247,671

number of days on market - 66 days

Looking at these numbers we can see that the same trend continues throughout the Halifax Real Estate Market.  Average price continues to rise, an 11% increase. Number of sales are up  17% from the same period 2 years ago which goes against the trend in residential unit sales.  Average days on market are up slightly.

What does all this mean?  Well if you are in the market for rental units it may now be the best time as I don’t see the market going down anytime soon.  Also the rental vacancy rate in Halifax is very low so there are a lot of prospective tenants out there.  Rents continue to rise.  If you would like more info on rental units or would like a market analysis done specific to your area, let me know.

Andrew Perkins

Your Halifax Real Estate Expert