Halifax (HRM) Residential Market Statistic Update For Week of May 16th-23rd 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  545 (570, 606, 683, 573) *520
Sold:  160 (176, 172, 166, 153) *192
Sale To List Ratio: 29% (31%, 28%, 24%, 26%) *37%
Expired/Cancelled/Withdrawn:  79  (106, 97, 125, 91) *104
Total Active Halifax/Dartmouth Inventory:  5,419 (5,369, 5,213, 5,084, 4,933)
Active Single Family Home: 3647 (3608, 3505, 3423, 3287) *2964
Average Single Family Home List Price:  $303,352 ($303,040, $296,250, $293,869, $319,827) *292k
Average Single Family Home Selling Price:  $296,297 ($295,780, $288,403,$286,471, $311,439) *286k
Average Days On  Market Single Family Home: 97 (85, 80, 74, 90) *76
Active Condos:  423  (418, 404, 384, 371) *256
Average Condo Listing Price:  $236,769 ($211,677, $263,420, $293,533, $288,341) *284k
Average Condo Selling Price:  $233,352 ($204,671, $258,366, $285,818, $280,358) *280k
Average Days On Market Condos:  63 (48, 44, 72, 120) *123
Halifax/Dartmouth Absorption Rate (weeks):  35 (35, 38, 39, 40) *25.5

New listings are down this week (25 more units then last year this time last year) but managed to bloat the ever increasing inventory to its highest count this year. Sales slowed down this week, and well off the pace of last year, and was reflected by the reduced sales to list ratio. Much more selection out there then last year! There is 683 more single family homes to choose from and 167 more condos. The increased inventory and competition, coupled with slumping sales should cause the listing and selling prices of these products to decrease but its quite the contrary. Average listing price is yet again above the 300k mark this week which is quite surprising given sales are not increasing. The indicator that says the averages are overpriced is the days on market stat. Both single family homes and condos increased over a week and if you compare the listing/selling prices in brackets (previous weeks) to the days on market for their coinciding week, you may notice a pattern. The lower the price, the lower the days on market. Thanks for stopping by!

Are you familiar with ViewPoint Realty? How about the ViewPoint real estate map? Its a great tool for all your real estate research needs and when you are ready to buy or sell, its the competitive edge over your competition!

Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary comparative market analysis or you can Contact me to advise you on your best plan of action for your real estate transaction and get the most advanced real estate system working for you. Feel free to leave a public comment or question below. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst and friend me on Facebook :) Please note that these opinions and comments are solely mine and mine alone.


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Halifax (HRM) Residential Market Statistic Update For Week of May 9th-16th 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  570 (606, 683, 573, 616) *563
Sold:  176 (172, 166, 153, 109) *199
Sale To List Ratio: 31% (28%, 24%, 26%, 18%) *35%
Expired/Cancelled/Withdrawn:  106  (97, 125, 91, 83) *65
Total Active Halifax/Dartmouth Inventory:  5,369 (5,213, 5,084, 4,933, 4,791)
Active Single Family Home: 3608 (3505, 3423, 3287, 3187) *2950
Average Single Family Home List Price:  $303,040 ($296,250, $293,869, $319,827, $309,518 *296k
Average Single Family Home Selling Price:  $295,780 ($288,403,$286,471, $311,439, $301,840) *289k
Average Days On  Market Single Family Home: 85 (80, 74, 90, 80) *79
Active Condos:  418  (404, 384, 371, 353) *252
Average Condo Listing Price:  $211,677 ($263,420, $293,533, $288,341, $295,646) *254k
Average Condo Selling Price:  $204,671 ($258,366, $285,818, $280,358, $288,946) *250k
Average Days On Market Condos:  48 (44, 72, 120, 107) 84
Halifax/Dartmouth Absorption Rate (weeks):  35 (38, 39, 40, 40)

Another positive market performance this week! The numbers to note this week are the sales to list ratio, which is the highest it has been this year so far, and the absorption rate. Reducing by three weeks, the absorption  rate is also a number that is at its best right now, and by best I mean lowest. Those two stats are good indicators of things to come in the near future, keeping in mind that they are based on inventory transactions of the past. I was thinking of a way to track a more tangible means to get a better focus on narrowing down the offer process to reflect a more current timetable. The first thing that usually happens (within 48hrs anyways) is that real estate agents change the status of a listing to "conditional/pending" once an offer has been accepted. I could add this statistic to the Blog if I had enough feedback saying that it would be welcomed. The positive being the ability to see how many people are out there making offers each week so it could be a gauge or tool to track buyers activity, the negative being that its still not a perfect indicator due to the fact that a percentage of accepted offers fall flat due to a condition(s) not being met and offers can go days before being agreed upon or entered into the system. I'll put it out there though and see what my loyal readers think. Heres the stat from the week;

April was an interesting real estate month. Seems to be getting harder to predict the market trend from month to month lately. For the second time this year the average sale price of Halifax homes dipped below previous years values. May be an indicator of the continuing correction.

Well, we expected a jump in the inventory for this time of year but April numbers blasted off! From third highest inventory reported in over a decade to second spot, this months skyward inventory climb is on pace to take top dog!

Another thing we finally experienced in April was a sales rebound. Not a great start to the year, especially last month, but April caught up to the rear of the pack with a good sales performance. Hopefully this momentum carries on!



Lots of good activity starting to buzz around town. House hunting trips are in full swing for military and other relocation folks, good attendance reports at open houses and general inquires are up %100 (feels like it anyways). Still quite a few overpriced units on the market right now so if you have been trying to sell for a while now (over 8 weeks) and your viewings are becoming less frequent, it may be time to re-evaluate the market situation. How are neighbours reacting to the market correction? Am I the most expensive home on the block/neighbourhood? Is my marketing effective? How does my house present...maybe I should consider staging. I have seen many listings this week that are not getting the proper advice on which direction to go with a market that changes weekly. And as the prime season begins you may just find yourself beat out by the 5,060 other listings currently for sale. Not having a plan for the long term is a recipe for disappointment, stress and ultimately a stale listing. Thanks for stopping by!

Are you familiar with ViewPoint Realty? How about the ViewPoint real estate map? Its a great tool for all your real estate research needs and when you are ready to buy or sell, its the competitive edge over your competition!

Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary comparative market analysis or you can Contact me to advise you on your best plan of action for your real estate transaction and get the most advanced real estate system working for you. Feel free to leave a public comment or question below. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst and friend me on Facebook :) Please note that these opinions and comments are solely mine and mine alone.


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Halifax (HRM) Residential Market Statistic Update For Week of May 2nd to May 9th 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  606 (683, 573, 616, 490) *632
Sold:  172 (166, 153, 109, 133) *202
Sale To List Ratio: 28% (24%, 26%, 18%, 27%) *32%
Expired/Cancelled/Withdrawn:  97  (125, 91, 83, 104) *69
Total Active Halifax/Dartmouth Inventory:  5,213 (5,084, 4,933, 4,791, 4,594)
Active Single Family Home: 3505 (3423, 3287, 3187, 3037) *2897
Average Single Family Home List Price:  $296,250 ($293,869, $319,827, $309,518, $292,520) *293k
Average Single Family Home Selling Price:  $288,403 ($286,471, $311,439, $301,840, $287,003) *289k
Average Days On  Market Single Family Home: 80 (74, 90, 80, 93) *60
Active Condos:  404  (384, 371, 353, 337) *240
Average Condo Listing Price:  $263,420 ($293,533, $288,341, $295,646, $292,810) *256k
Average Condo Selling Price:  $258,366 ($285,818, $280,358, $288,946, $280,665) *250k
Average Days On Market Condos:  44 (72, 120, 107, 191) 48
Halifax/Dartmouth Absorption Rate (weeks):  38 (39, 40, 40, 112)

Hold on sellers, there may be hope yet! For the third consecutive week we have seen a balance come over the market and some inventory finally start to move. Some areas of the city are lighting up with renewed activity and certain mid price point homes (300K-450k) are being hunted. Areas of Beaverbank, Sackville, Hammonds Plains and Fall River are really starting to attract attention by home shoppers and more activity is expected this month with the Military Relocation Program starting its posting season. Another product that is being sought after are investments. From house flippers to multi-residential, and even land developers have increased their push to grab a piece of the Halifax pie. Looks like the warm weather did make its impact on things around here, just have to wait to see how long it lasts. 

Halifax (HRM) Residential Market Statistic Update For Week of April 25th to May 2nd 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  683 (573, 616, 490, 446) *468
Sold:  166 (153, 109, 133, 144) *172
Sale To List Ratio: 24% (26%, 18%, 27%, 32%) *37%
Expired/Cancelled/Withdrawn:  125  (91, 83, 104, 165) *187
Total Active Halifax/Dartmouth Inventory:  5,084 (4,933, 4,791, 4,594, 4,542)
Active Single Family Home: 3423 (3287, 3187, 3037, 2992) *2823
Average Single Family Home List Price:  $293,869 ($319,827, $309,518, $292,520, $279,147) *294k
Average Single Family Home Selling Price:  $286,471 ($311,439, $301,840, $287,003, $274,793) *289k
Average Days On  Market Single Family Home: 74 (90, 80, 93, 92) *67
Active Condos:  384  (371, 353, 337, 336) *226
Average Condo Listing Price:  $293,533 ($288,341, $295,646, $292,810, $273,775) *246k
Average Condo Selling Price:  $285,818 ($280,358, $288,946, $280,665, $265,452) *243k
Average Days On Market Condos:  72 (120, 107, 191, 70) 48
Halifax/Dartmouth Absorption Rate (weeks):  39 (40, 40, 112, 42, 46)

Warm weather brought a couple things this week, a bunch of new listings and an inflation to the inventory. Not the direction I was hoping for this week as some of the important stats ebbed away from the promising start of the month but here we are. Pretty average week and not too much fluctuating from the past few weeks but we are starting to see the new listing addition bloat the overall picture which is pretty typical for this time of year. Values remain solid and days on market remain low which is a positive factor for those considering their window of opportunity to sell. Not to mention the posting season is right around the corner so fairly priced homes in certain areas will go quite quickly. But thats the case in Halifax without the outside factors, we have seen a pretty large market increase from last years announcement and we are still experiencing the market correction. So if you in the market to sell your home, have a good look at the sales performance over the past few years and smartly decide which way you want to market your property. Thanks for stopping by!

Are you familiar with ViewPoint Realty? How about the ViewPoint real estate map? Its a great tool for all your real estate research needs and when you are ready to buy or sell, its the competitive edge over your competition!

Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary comparative market analysis or you can Contact me to advise you on your best plan of action for your real estate transaction and get the most advanced real estate system working for you. Feel free to leave a public comment or question below. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst and friend me on Facebook :) Please note that these opinions and comments are solely mine and mine alone.


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Halifax (HRM) Residential Market Statistic Update For Week of April 18th to April 25th 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  552 (573, 616, 490, 446) *519
Sold:  147 (153, 109, 133, 144) *199
Sale To List Ratio: 27% (26%, 18%, 27%, 32%) *38%
Expired/Cancelled/Withdrawn:  91  (83, 104, 165, 43) *64
Total Active Halifax/Dartmouth Inventory:  5,037 (4,933, 4,791, 4,594, 4,542)
Active Single Family Home: 3356 (3287, 3187, 3037, 2992) *2850
Average Single Family Home List Price:  $319,827 ($309,518, $292,520, $279,147, $288,111) *286k
Average Single Family Home Selling Price:  $311,439 ($301,840, $287,003, $274,793, $281,138) *281k
Average Days On  Market Single Family Home: 90 (80, 93, 92, 82) *81
Active Condos:  386  (371, 353, 337, 336) *225
Average Condo Listing Price:  $288,341 ($295,646, $292,810, $273,775, $261,911) *226k
Average Condo Selling Price:  $280,358 ($288,946, $280,665, $265,452, $253,700) *223k
Average Days On Market Condos:  120 (107, 191, 70, 71) 133
Halifax/Dartmouth Absorption Rate (weeks):  40 (40, 112, 42, 46)

Another solid week of improvements as we approach the midpoint of the Spring market. Marginal gains in most areas of the market this week with the exception of condominiums. The condo market has seen a stark contrast to the popular attraction that it has enjoyed over the past few years. The entirety of 2012 did not see the inventory of condos rise more then 280 active units on any given week, this year we have already bumped well into the 300's and if this trend keeps up will soar well above the 400 mark. The change from last year at this time is a grand total of 161 units, a 72% gain! The condo market nation wide has been a booming success and I have seen several markets push back (including our own) and say enough is enough. Although this type of product has its desirability, buyers are flocking back to single family detached and semi-detached homes based on availability and affordability. Not to mention there is an accommodation servicing the other customers for this type of product found under the various cranes of rental units sprouting up all over the city. As the market correction continues for single family homes I can only imagine that condominiums are not too far behind. Thanks for stopping by!

Are you familiar with ViewPoint Realty? How about the ViewPoint real estate map? Its a great tool for all your real estate research needs and when you are ready to buy or sell, its the competitive edge over your competition!

Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary comparative market analysis or you can Contact me to advise you on your best plan of action for your real estate transaction and get the most advanced real estate system working for you. Feel free to leave a public comment or question below. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst and friend me on Facebook :) Please note that these opinions and comments are solely mine and mine alone.


Newest blog post HERE

Halifax (HRM) Residential Market Statistic Update For Week of April 11th to April 18th 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  573 (616, 490, 446, 484) *539
Sold:  153 (109, 133, 144, 99) *189
Sale To List Ratio: 26% (18%, 27%, 32%, 20%) *35%
Expired/Cancelled/Withdrawn:  83  (104, 165, 43, 69) *77
Total Active Halifax/Dartmouth Inventory:  4,933 (4,791, 4,594, 4,542, 4,453)
Active Single Family Home: 3287 (3187, 3037, 2992, 2922) *2796
Average Single Family Home List Price:  $309,518 ($292,520, $279,147, $288,111, $321,604) *298k
Average Single Family Home Selling Price:  $301,840 ($287,003, $274,793, $281,138, $313,968) *294k
Average Days On  Market Single Family Home: 80 (93, 92, 82, 113) *75
Active Condos:  371  (353, 337, 336, 332) *223
Average Condo Listing Price:  $295,646 ($292,810, $273,775, $261,911, $375,044) *273k
Average Condo Selling Price:  $288,946($280,665, $265,452, $253,700, $358,722) *268k
Average Days On Market Condos:  107 (191, 70, 71, 67) 97
Halifax/Dartmouth Absorption Rate (weeks):  40 (112, 42, 46, 49)

Looks a descent response from the sales stat this week as we finally see some marginal movement on the market. Is it any coincidence that the weather improvement has encouraged buyers to get out there and look around for their new abode? Unlikely. The sales that you see this week are a representation of weeks, or possibly months of process from offers and due diligence culminating in the "sale" of a property. The history and tracking of sales may be misleading unless you know how to apply the current report to what application you are looking into. For instance, you wouldn't be able to look at the report and say "honey, theres a bunch of sales this week, I think we should list the house!" As you would be making that assumption based on past events and irregular factors. But something like a annual stats graph like the one here gives you an idea what the trend is. So by combining annual trend and comparing it to todays market you get a better, more solid interpretation and anticipation of the direction of things. These factors might encourage or discourage what course of action you may take and can affect even basic tasks such as pricing your home. 

Speaking of pricing your home, I would encourage you to pop over to the ViewPoint Blog and read a great article called "Right property, wrong price."  It uses one specific property as a reference to describe very similar and repeating history in our market and its definitely worth the read. Thanks for stopping by!

Are you familiar with ViewPoint Realty? How about the ViewPoint real estate map? Its a great tool for all your real estate research needs and when you are ready to buy or sell, its the competitive edge over your competition!

Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary comparative market analysis or you can Contact me to advise you on your best plan of action for your real estate transaction and get the most advanced real estate system working for you. Feel free to leave a public comment or question below. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst and friend me on Facebook :) Please note that these opinions and comments are solely mine and mine alone.


Newest blog post HERE

Halifax (HRM) Residential Market Statistic Update For Week of April 4th to April 11th 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  616 (490, 446, 484, 495) *463
Sold:  109 (133, 144, 99, 98) *149
Sale To List Ratio: 18% (27%, 32%, 20%, 20%) *32%
Expired/Cancelled/Withdrawn:  104  (165, 43, 69, 62) *79
*Total Active Halifax/Dartmouth Inventory:  4,791 (4,594, 4,542, 4,453, 4,326)
Active Single Family Home: 3187 (3037, 2992, 2922, 2832) *2742
Average Single Family Home List Price:  $292,520 ($279,147, $288,111, $321,604, $282,934) *294k
Average Single Family Home Selling Price:  $287,003 ($274,793, $281,138, $313,968, $273,961) *291k
Average Days On  Market Single Family Home: 93 (92, 82, 113, 117) *85
Active Condos:  353  (337, 336, 332, 319) *233
Average Condo Listing Price:  $292,810 ($273,775, $261,911, $375,044, $241,071) *266k
Average Condo Selling Price:  $280,665 ($265,452, $253,700, $358,722, $241,714) *260k
Average Days On Market Condos:  191 (70, 71, 67, 98) *152
Halifax/Dartmouth Absorption Rate (weeks):  112 (42, 46, 49, 50)

Looks like the hits keep on coming! Huge amount of new listings this week and with not a whole lot of sales happening the inventory numbers are climbing at an accelerated rate. The rest of the stats remain relatively normal. Condo and single family home values remain strong, days on market are average and the pile (expired, cancelled, withdrawn listings) are in usual parameter. We did have some "out of the ordinary" activity this week again with the sales dip. Another poor sales week vs big inventory addition equals a very low sales to list ratio, an absorption rate that not only doubled itself from last week, but the highest I have reported that stat since I began recording it last year. Hopefully the nice weather will start bringing buyers out of hiding, and with posting season around the corner we should see positive traffic increase. Thanks for stopping by!

Are you familiar with ViewPoint Realty? How about the ViewPoint real estate map? Its a great tool for all your real estate research needs and when you are ready to buy or sell, its the competitive edge over your competition!

Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary comparative market analysis or you can Contact me to advise you on your best plan of action for your real estate transaction and get the most advanced real estate system working for you. Feel free to leave a public comment or question below. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst and friend me on Facebook :)


Newest blog post HERE

Halifax (HRM) Residential Market Statistic Update For Week of March 28th To April 4th 2013
(Previous weeks numbers in brackets)
*Last year this week

New Listings:  490 (446, 484, 495, 491) *673
Sold:  133 (144, 99, 98, 89) *176
Sale To List Ratio: 27% (32%, 20%, 20%, 18%) *25%
Expired/Cancelled/Withdrawn:  165  (43, 69, 62, 156) *167
*Total Active Halifax/Dartmouth Inventory:  4,594 (4,542, 4,453, 4,326, 4,163)
Active Single Family Home: 3037 (2992, 2922, 2832, 2735) *2670
Average Single Family Home List Price:  $279,147 ($288,111, $321,604, $282,934, $306,619) *289k
Average Single Family Home Selling Price:  $274,793 ($281,138, $313,968, $273,961, $300,136) *281k
Average Days On  Market Single Family Home: 92 (82, 113, 117, 98) *96
Active Condos:  337  (336, 332, 319, 313) *233
Average Condo Listing Price:  $273,775 ($261,911, $375,044, $241,071, $209,628) *248k
Average Condo Selling Price:  $265,452 ($253,700, $358,722, $241,714, $203,210) *243k
Average Days On Market Condos:  70 (71, 67, 98, 89) *102
*Halifax/Dartmouth Absorption Rate (weeks):  42 (46, 49, 50, 48)

After a dismal sales month in March (see below), things on the sales side of things are still pretty bleak this week. Saying that, its not just the sales that are experiencing poor performance lately and this week is no exception. The sales to list ratio is down, expired/canceled/withdrawn listings are up, average days on market have increased and both condo and single family home values have fallen. This is the week from last year that started the slow decline into the market we are in today. The Irving shipbuilding announcement excitement had started to wain, new mortgage rules had been applied and we started to feel the effects of those and other factors. We usually experience a slow market growth here in Halifax and I believe that this is just a bump on the road to market stabilization. If market history has any indication of which way the market is going, then this may be the time to get in the market to purchase while things are still up in the air. Whats your thoughts?

Are you familiar with ViewPoint Realty? How about the ViewPoint real estate map? Its a great tool for all your real estate research needs and when you are ready to buy or sell, its the competitive edge over your competition!

Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary comparative market analysis or you can Contact me to advise you on your best plan of action for your real estate transaction and get the most advanced real estate system working for you. Feel free to leave a public comment or question below. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst and friend me on Facebook :)


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Looks like we have an average addition to the inventory this month. The slow climb continues its upward momentum as we approach the peak months for inflated inventory stats. Nothing out of the ordinary here.

Sale prices made a solid recovery this month taking back top spot overall. Coming in at just over the $270 mark, the value spread from five years ago is $50k. That means on average, homes five years ago where selling for $50,000 less then what they are selling for today. Thats a 10% annual gain average.

Looks like we have another record breaking sales month, not in a good way. Sales have hit the decade low slump yet again this month for the second time since December 20. We are yet to break from this dismal sales performance since this time last year. Lots of speculation and guessing but thats all it is. The stats that I report are strictly from the Realtor® side of the MLS (Multiple Listing Service) and do not take into consideration private sales or companies that do not trade on the MLS. That being said, I can't imagine that percentage would influence these reports to the point of reversing the slump. Just to hammer the point home, in March of 2007 there was 693 sales. Thats a difference of 332, almost twice as much as this month! Things should start to move with the warmer weather and seasonal trend, but at this rate we are looking at a repeat of last year. Whats your thoughts on the Halifax sales slump? 

Make sure to come back Thursday for the weekly stat wrap up and market report (every Thursday)

Are you familiar with ViewPoint Realty? How about the ViewPoint real estate map? Its a great tool for all your real estate research needs and when you are ready to buy or sell, its the competitive edge over your competition!

Have a question about the Halifax Real Estate market? Thinking this might be the time to purchase or list your property? I can provide you with a complimentary comparative market analysis or you can Contact me to advise you on your best plan of action for your real estate transaction and get the most advanced real estate system working for you. Feel free to leave a public comment or question below. Follow me on Twitter to keep up to the minute with all things Halifax real estate @HalifaxRealEst and friend me on Facebook :)


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