Market Watch Wednesday

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

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Day 6 HRM Real Estate Market Watch Week

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.

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My Weekly look at the state of the Halifax Real Estate Market

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

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Halifax Real Estate guys top 5 tips for sellers.

When selling your home their are a number of tips that will make for a successful sale. In this video blog I discuss my top 5 tips for sellers of real estate in Halifax, Dartmouth and surrounding areas.  If you are thinking of selling your home and would like more information you can call me 902-488-0012 or email andrew@halifaxrealestateguy.com.

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My weekly look at the state of the Halifax Real Estate Market

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 call me 902-488-0012 or email andrew@halifaxrealestateguy.com.

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- Monday Market Watch – Absorption Rates

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My weekly look at the state of the Halifax Real Estate Market

This week I am taking a look at the Halifax Real Estate market based on the first quarter MLS stats released by CMHC(Canadian Mortgage and Housing Corporation) late last week.  If you would like to know more information about your specific area you can call me 902-488-0012 or email andrew@halifaxrealestateguy.com.

Releated Video Posts

- Monday Market Watch – Absorption Rates

- Monday Market Watch – Bedford Real Estate Market Update

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By The Numbers for the Halifax Real Estate Market in 2009

It’s the beginning of the New Year and my first day back at it, so to speak.  I am sure everyone is wondering what happened with the Real Estate market in HRM in 2008.  I am going to break it down by the numbers and compare it to the last 3 years to give you a better perspective of what happened in 2008 and what the future could possibly hold for 2009.

Halifax Real Estate Market update for areas 1-40 which encompasses all of HRM for single family detatched, semi detached, condos, townhouses, mobile homes and new construction for 2008

Halifax Real Estate Market update for areas 1-40 which encompasses all of HRM for single family detatched, semi detached, condos, townhouses, mobile homes and new construction for 2007.

Halifax Real Estate Market update for areas 1-40 which encompasses all of HRM for single family detatched, semi detached, condos, townhouses, mobile homes and new construction for 2006.

A Quick Summary

2006 – Average price was $216,125/Number of sales 5371

2007 – Average Price was $229,335/Number of sales 6012

2008 – Average Price was $243,706/Number of sales 5344

Looking at these numbers it is easy to see that the Halifax Real Estate Marketis in great shape going in to 2009.  The average price is up 6.1% from 2007 and 12.4% from 2006.  Number of sales is down 11% from 2007(which was a recrod year) and stayed the same as 2006.  Days on market suprisingly went down each year although we are seeing days on market creep up in the latter part of 2009.

You can look for prices to remain stable for the next couple of months and possibly see a slight increase halfway through the year.  The number of sales will again go down, for a number of reasons.  1. The economic downturn and 2. No more zero down mortgages, although this could be offset by low interest rates.

I have some exciting plans for my blog in 2009.  Keeping checking back for regular updates.

If you are looking to buy or sell Real Estate in Halifax, Dartmouth and surrounding areas do not hesitate to call me anytime at 902-488-0012.

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Andrew Perkins

Your Halifax Real Estate Expert

How is the Sackville Real Estate Market performing in the Last 3 months?

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.

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Andrew Perkins

Your Halifax Real Estate Expert

Today I am going to look at the average price in the Halifax Real Estate Market for the last 8 years dating back to 2000.  This should give you an idea of how the Halifax Real Estate market has fared over the years and where is it headed in the future.

Halifax Real Estate	Average Price	Number of Sales	% Price Change
2000	$120,161	5843
2001	$127,337	6484	+5.6%
2002	$142,034	6943	+10.3%
2003	$156,539	6424	+9.2%
2004	$167,720	6777	+6.7%
2005	$181,560	6925	+7.6%
2006	$194,150	6679	+6.5%
2007	$207,198	7493	+6.3%
2008	$221,737	6039	+6.6%
Totals		59,607	+7.3

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 Halifax Real Estate do not hesitate to contact me.

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Andrew Perkins

Your Halifax Real Estate Expert

How did the Halifax Real Estate Market perform in the 3rd Quarter?

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.

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Andrew Perkins

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