How was the real estate market in the Halifax Region in 2013 - the facts & stats

Published 05 January 14 09:37 AM | Merv Edinger 

How is the real estate market in Halifax? The facts & stats for 2013!


Halifax Regional Municipality Housing Market check

 What’s made this year more notable has been the very slow start for the first 5 months of the year, which felt especially compounded by the soft 4th quarter last year.  2012 Jan- June 1st HRM Sales Stats  Volume $815,047,663 & Units 6241.5.  For the same time period in 2013, Volume $630,543,950 & in units 4643.5.  That is a decrease in HRM Sales Volume by 23% & in units of 24%.  These are usually the 5 months where most of us write between 70-75% of deals. Both clients & sales agents alike felt the heat of the difficult spring market this year, especially as decently-priced, good showing homes in good neighborhoods were just not moving at all during that period. 

According to the NSAR board reports $443,892,398 in real estate sales volume was recorded for HRM this summer (from June 1st until Aug 31st). That’s 3,369 in unit sales. This accounts for 41% of the overall 2013 HRM real estate sales production figure year-to-date (and 42% of the overall unit sales production). This means that even though the overall numbers are down significantly, there has been considerable movement in the marketplace in the last 3 months.

Where does Re/Max Nova fit into all of this? Re/Max Nova   2013 Jan-Aug 31st Sales Stats (NSAR Board Reports) $120,589,568 in Volume  913 units. That is UP from Re/Max Nova's performance during the same period in 2012 ( Volume $115,209,368 & 908 Units ).

Putting up a SOLD sign for some very happy sellers!

Best & Worst Markets for sales year-to-date ( Jan-Aug 2013 )

This statistic is measured traditionally by list to sales ratios (how many units have been listed vs. how many units have sold in the region in the same period). 100% means everything listed has sold, 50% means only ½ the listings have sold, etc…

The overall HRM Year to date List to Sell Ratio for unit sales is: 49.2%

Best Market this year in HRM: Forest Hills: 64%

Timberlea, Prospect, St. Margaret’s Bay. 64%

Halifax North 62%

Dartmouth, woodside, Eastern Passage, Cow Bay 62%

Spryfield 60%

Halifax Central 58%

Halifax South 43%

Halifax West 55%

Fairmount, Clayton Park, Rockingham 50%

Fairview 53%

Dartmouth Downtown to Burnside 59%

Southdale, Manor Park 49%

Crichton Park, Albro Lake 52%

Dartmouth, Montebello, Port Wallis, Keystone 58%

Colby Area 50%

Woodlawn, Portland Estates, Nantucket 55%

Bedford: 43%

Sackville 55%

Beaverbank Upper Sackville 50%

Lawrencetown, Lake Echo, Porters Lake 48%

Note: The toughest markets in 2013, year to date, have been: Armdale/ Pursells Cove/Herring Cove 27% ; Sambro/Harrietsfield 33%; Kingswood/Hammonds Plains 38%; Sackville 43%; Waverley/Oakfield/Fall River 34%; & Halifax County East 27%.

RE/MAX nova Days-On-Market HRM: 80 DAYS! Industry Days-On-Market in HRM: 91 Days

RE/MAX nova list-to-selling price: 97% Industry list-to-selling: 97%

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