Halifax Real Estate Market Update

By
Real Estate Agent with Keller Williams Realty

Halifax Real Estate Market update, December 3, 2008

How has the real estate market in Halifax performed in the last two months?  With all the doom and gloom in the financial sector of the news lately I figured it would be a good time to look at the HRM real estate market as a whole compared to the previous year.

Halifax Real Estate market update for all areas of HRM  for October, November 2008.  Based on MLS stats for single family homes, condominiums and new construction.

           MonthAverage List Price Average Sale Price Sale to List Price Average List DurationNumber Of Sales

   

Halifax Real Estate Blog Market Update 2008
NOV-2008 248024 238845 96% 104 days 239
OCT-2008 240011 233161 97% 89 days 383
Averages: 243090 235345 97 % 95 days 622

 Halifax Real Estate market update for all areas of HRM  for October, November 2007.  Based on MLS stats for single family homes, condominiums and new construction.

           MonthAverage List Price Average Sale Price Sale to List Price Average List DurationNumber Of Sales

  

Halifax Real Estate Blog Market Update 2007
NOV-2007 229987 223989 97% 98 days 409
OCT-2007 228744 221646 97% 87 days 479
Averages: 229317 222725 97 % 92 days 888

Total Active Listings - 3063

As you can see from these numbers the market is definitely softening over the last two months.  Sales are down by 30% over last years numbers.  Albeit last year was a record for sales but this is still a significant decline.  The silver lining I guess is that price continues to increase.  The average price has increased by 5.6%.  Days on market has also increased by 3 days which is not too significant.

Right now we are seeing a buyers market in the Halifax Real Estate market.  There is a lot of inventory out there and not a lot of buyers.  Homes are sitting on the market for a long time.  If you are looking to buy real estate in Halifax now is as good a time as any.  There are deals to be had.

If you would like more info on market stats in your area, send me an email or call 902-488-0012.  I would be more than happy to answer any questions you may have pertaining to real estate in Halifax, Dartmouth and surrounding areas.  In the coming weeks I am going to be looking at HRM by design and new condo projects coming on board, so stay tuned for that.

Related Articles

- Sackville Real Estate Market Update

- Fall River Real Estate Market Update

Andrew Perkins

Your HRM Real Estate Expert

Halifax Real EstateHalifax Real Estate

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Rainmaker
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Larry Estabrooks
a Fully Independent Real Estate Agent - - Moncton, NB
REALTORĀ®, Moncton, NB

Andrew, thanks for the update. Similar situation in the Moncton market.

Dec 03, 2008 08:01 PM #1
Rainer
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Liz Toles
MyLethbridgeRealty.com - Lethbridge, AB
Liz Toles REALTOR - Lethbridge Real Estate

Hi Andrew,

Sounds very similar to the Lethbridge market as well... hmmm. Our DOM (our board doesn't officially report that stat) and average price aren't far off (12 month average price $259,774 board wide).

On another note, you will have to tell me how you get those great buttons at the bottom of you posts!

Dec 03, 2008 11:25 PM #2
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Rainer
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Andrew Perkins

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