Homes in HRM

Your home for Real Estate Services within
the Halifax Regional Municipality!

Sheila Banser
Phone: 902.830.8757
Fax:     902.455.6738
E-mail: sheilabanser@royallepage.ca

General Real Estate Articles

February 2007 Market Update

Housing Market Heats Up!

Despite the cold temperatures of January setting in, the Local housing market has already started to heat up!  Already in February, over $65 million dollars worth of real estate has sold in the Halifax Region.  People want to know what is moving these days, so here are some ideas of what the hottest areas of the market are, in terms of location, housing type and price!

So Far, through February 1st of this year, the average sale price of a home here in Halifax Region, is $187,387, and it has taken approximately 111 days to sell. There have been a total of 426 property transactions here in the region, which includes home sales, condo sales, vacant land, multi-unit (income property) and commercial properties.  The average price that these properties have been listed at was $194,145, which give us an average list/sale ratio of about 97% (otherwise put - homes have been selling for about 97% of what they were listed at)

To break it down in terms of type of housing, it is interesting that the average price for a Condo in Halifax Region has now outpaced the average price for a single family home.  The average condo this year has sold for $206,623, and they have sold in an average of 99 days, while the average single family home has had a price tag of $197,965. This includes townhouses and semi’s however.  The average detached home still remains slightly higher at $209,054.

The highest price home to have sold this year was listed at $679,900, with the lowest price being $39,600.  In terms of Condo’s, the highest has gone for $449,900, with the lowest being $85,900.

In terms of areas that have been moving lately, Sackville and Timberlea remain quite busy this time of year.  Highly concentrated military presence can probably be accounting for this, as we come into posting seasons.

The most new listings were seen in the Clayton Park, Fairmount, Rockingham region, with a number of new construction projects on the go in Royale Hemlocks, as well as a number of condos coming on in Clayton Park West.  Fairview has slowed down in terms of turnover greatly, with January seeing only 3 new listings, and 3 total sales in the area (as compared to 99 listings and 30 sales in Clayton Park).  Look for Fairview to quicken as we come into the spring months however.

Want to know how the activity has been in your area?  Drop me a line at sheilabanser@royallepage.ca and I would be happy to give you a full report

Beautiul Halifax Waterfront!

Did you know that the average price of a condo here in Halifax Region is now higher than that of a single family home?

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