Current Halifax Market Report

Halifax Real Estate Market Month in Review – January 2012

Halifax Real Estate Market Month in Review – January 2012.  The numbers below are based on MLS® statistics for single family homes and condominiums 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*

January 2012

Average Sale Price – $282,250

Number of Sales – 277

% vs Jan 2011(price) -  +6.2%

% vs Jan 2011(sales) -  +8.2%

Average Days on Market – 93

Active Listings – 2166

Absorption Rate – 34 weeks

Type of Market – Buyers

Multi-Family**

January 2012

Average Price – $291,833

Number of Sales – 6

% vs Jan 2011(price) –  +8.82%

% vs Jan 2011(sales) -  -53%

Average Days on Market – 72

Active Listings – 52

Absorption Rate – 40 weeks

Type of Market – buyers

* Includes single family homes and Condominiums

** Includes multi- family homes 2-12 units

Synopsis

Residential

The month of January continued to see strong gains in the Halifax real estate market.  Both average price and the number of sales were up by over 5% which is a first in a long time.  The absorption wait is also slowly falling.  Seems like the spring market is starting early this year.

Multi-Family

Investment properties in HRM saw average price increase by almost 9% compared to January 2011.  Number of sales decreased significantly to only 6 sales.  This can be attributed to investors eager to sit on their properties to see how the market reacts in the coming months.

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