Halifax Real Estate Market 1st Quarter Review January – March 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*

Jan – March 2012

Average Sale Price – $281,168

Number of Sales – 1278

% vs 1st Qtr 2011(price) –  +2.7%

% vs 1st Qtr 2011(sales) –  +21%

Average Days on Market – 97

Active Listings – 2456

Absorption Rate – 21 weeks

Type of Market – Sellers

 

Multi-Family**

Jan – March 2012

Average Price – $346,496

Number of Sales – 28

% vs 1st Qtr 2011(price) –  +16.5%

% vs 1st Qtr 2011(sales) –  -15%

Average Days on Market – 92

Active Listings – 62

Absorption Rate – 29 weeks

Type of Market – buyers

 

* Includes single family homes and condominiums

** Includes multi- family homes 2-12 units

Synopsis

Residential

The first quarter in the Halifax Real Estate market saw gains across the board.  Average price was up 2.7% and the number of sales were up 21% compared to 2011.  The market has definitely been hot lately.  Their are lots of competing offers.  The absorption rate still sits at 21 weeks which constitutes a sellers market.  If a property is priced right it should’t take too long to sell with these market conditions.

Multi-Family

Investment properties in the first quarter in HRM saw average price increase by a 16.5% compared to February 2011.  Number of sales decreased by 15% .  We are starting to see some movement in this market segment. Now that the spring market is here  inventory is up for investment properties and we are seeing a slight buyers 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