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
New Listings – 215
Number of Active Listings – 2986
Absorption Rate – 22 weeks
Type of Market –Sellers market
The number of new listings were down this week compared to last. The number of active listings continue to hover around the 3000 mark. Combined with fewer listings coming to market and the number of sales last month(582) the absorption remained basically unchanged at 22 weeks
As always feel free 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 81.
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 increased significantly compared with both 2009 and 2010. The average price last week was 298K.
Figure 2. All numbers based on MLS® statistics, single family homes and condominiums for areas 1-40 which encompass all of HRM
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The number of Active listings continue to stay around the 3000 mark for the end of June. Well below 2009 and slightly ahead of 2010.
Figure 3. 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 June 18-24,2011
-Week in Review June 11-17,2011
-Week in Review June 4-10, 2011
New Listings – 221
Number of Active Listings – 3041
Absorption Rate – 21 weeks
Type of Market –Sellers market
The number of new listings were down this week compared to last. The number of active listings continue to hover around the 3000 mark. Combined with fewer listings coming to market and the number of sales last month(600) the absorption rate dropped again and now sits at 21 weeks.
As always feel free 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 last week were down compared to the same week last year and again down significantly compared to 2009. The number of sales last week totaled 93.
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 declined compared with 2010 but was up compared to 2009. The average price last week was 274K.
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 June 11-17,2011
New Listings – 267
Number of Active listings – 2883
Absorption Rate – 24.7 weeks
Type of Market –Balanced
The number of new listings were down slightly this week compared to last. The absorption rate down to 24.7 weeks.
Want to know the market stats for your area of HRM? Feel free contact me by email andrew@halifaxrealestateguy.com or call 902-488-0012.
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The weekly sales last week dropped significantly compared to both 2009 and 2010. The number of sales last week totaled 95. The last several weeks we have significant declines in the number of sales compared to 2009 and 2010
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 on par with 2009 and 2010. The average price last week was 265K.
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 April 30-May 6th
-Week in Review April 22-April 29
