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

- Halifax Week in Review August

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.

_______________________________________________________________________

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 – 251

Number of Active Listings – 3033

Absorption Rate – 27 weeks

Type of Market –Buyers market

The number of new listings continue to hover around the 3000 mark.  After seeing a balanced market for the past several months we are now experiencing 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.

_______________________________________________________________________

The weekly sales were down significantly compared to the same week in 2009 and 2010.   The number of sales last week totaled 76

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 compared with both 2009 and 2010.  We are seeing a steady increase of 4 to 5%  in average price year over year.  The average price last week was 276K.

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 29th-Aug 5th, 2011

-Week in Review July 2nd-July 8, 2011

-Week in Review June 25-July 1,2011

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.

_______________________________________________________________________

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

New Listings – 263

Number of Active Listings – 3026

Absorption Rate – 21 weeks

Type of Market –Sellers market

The number of new listings were up this week compared to last. The number of active listings continue to hover around the 3000 mark. Based on the number of sales last month(612) the absorption dropped by one week to 21 weeks.

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.

_______________________________________________________________________

The weekly sales were up compared to the same week last year and again down significantly compared to 2009. The number of sales last week totaled 87

Figure 1. All numbers based on MLS® statistics, single family homes and condominiums for areas 1-40 which encompass all of HRM

_______________________________________________________________________

Average price decreased compared with 2010 but was up compared with  2009.  The average price last week was 272K.

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 25-July 1,2011

-Week in Review June 18-24,2011

-Week in Review June 11-17,2011

This week on market watch Wednesday I am taking a look at the numbers for the Halifax real estate market for the month of June.  For the first month in a long time the number of sales have increased.
If you would like more information on 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/Halifax Condo Market Update May 2011

-Market Watch Wednesday/Halifax Real Estate Market Update May 2011

-Market Watch Wednesday/Halifax Multi-Family Market Update

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.

_______________________________________________________________________

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.

_______________________________________________________________________

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

_______________________________________________________________________

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

-Week in Review June 4-10, 2011

- Week in Review May 28-June 3rd

New Listings – 232

Number of Active Listings – 3060

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(597) the absorption rate dropped again and now sits 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.

_______________________________________________________________________

The weekly sales last week were up compared to the same week last year but down significantly compared to 2009. The number of sales last week totaled 127.

Figure 1. All numbers based on MLS® statistics, single family homes and condominiums for areas 1-40 which encompass all of HRM

_______________________________________________________________________

Average price moved upward compared with 2010 but declined over 2009.  The average price last week was 277K.

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 4-10, 2011

- Week in Review May 28-June 3rd

-Week in Review May 21-May 27