Halifax’s Condo Real Estate Specialists

Halifax Condo Stats

Halifax Condo Market Update 2nd Quarter 2013 Posted on Jul 03, 2013

Halifax Condo Market Update 2nd Quarter 2013

Figure 1 – All data based on MLS® statistics for areas 1 – 40 which encompass all of HRM.

Figure 2 – All data based on MLS® statistics for areas 1 – 40 which encompass all of HRM.

Overview

The Halifax condo market is still experiencing a slowdown in both average price and the number of sales.  Average price for the 2nd quarter decreased by 1.1% and the number of sales dropped 25% compared to the second quarter of 2012.  This trend is no different with single family homes and investment properties in HRM.  All markets in HRM are experiencing a slowdown.  The summer market is generally a slow time in the real estate market in HRM.  We anticipate sales and price could increase in the fall of this year.

If you would like more information on the Halifax Condo market you can always contact us. info@condo-company.ca

-Andrew

 

Halifax Condo Market Update – May 2013 Posted on Jun 07, 2013

Halifax Condo Market Update – May 2013

 

Figure 1 – All data based on MLS® statistics for areas 1 – 40 which encompass all of HRM.

 

Figure 2 – All data based on MLS® statistics for areas 1 – 40 which encompass all of HRM.

Overview

The trend we had in the first quarter has continued for the month of May in the Halifax Condo Market. Average price continues to increase, this month at a rate of 6.5% over May 2012, while sales continue to decline by 28% over 2012. This is consistent with the Halifax single family home real estate market as a whole.  The drop of sales can be attributed to tightening mortgage rules by the federal government in 2013 and also with the announcement of the ship-building contract for Halifax in late 2011 there was a rush in the market spiking sales for early 2012.  In May 2010 there were 72 sales, in May  2011 there were 68 sales, 2012 there were 81 sales and now in 2013 we find 58 sales. Based on these numbers the market is not as dire as some media outlets tend to make it out to be.

If you would like more information on the Halifax Condo market you can always contact us. info@condo-company.ca

-Andrew

 

Halifax Condo Market Update – April 2013 Posted on May 21, 2013

Halifax condo market update – April 2013

Figure 1 – All data based on MLS® statistics for areas 1 – 40 which encompass all of HRM

Figure 2 – All data based on MLS® statistics for areas 1 – 40 which encompass all of HRM

Overview

Again in April we see a similar trend with condo sales as we have seen with home sales for Halifax in general.  Number of Sales continue to drop compared to previous years.  Average price stayed virtually the same as 2012 at 260K but increased by 11% compared to 2011.   Expect this trend to continue through the spring and early summer.

If you would like more information on the Halifax Condo market you can always contact us. info@condo-company.ca

-Andrew

HALIFAX CONDO MARKET UPDATE – 1st Quarter 2013 Posted on Apr 09, 2013

Halifax Condo Market Update 1st Quarter 2013

Figure 1 – All data based on MLS® statistics for areas 1 – 40 which encompass all of HRM

Figure 2 – All data based on MLS® statistics for areas 1 – 40 which encompass all of HRM

1st Quarter review

The first quarter in the Halifax Real Estate Condo Market was very similar to single family home sales.  The average price continues to increase, however the number of sales continue to drop. We saw average price increase by 10% in the 1st quarter and the number of sales decreased by 41% .  This can be attributed to 2 main reasons.  1) The federal government changing of the mortgage rules to a shorter amortization and 2) with the announcement of the shipbuilding contract for Halifax last year, there was a lot of speculation and the market picked up substantially with buyers eager to pick up properties especially on the peninsula of Halifax. The condo market is currently in a buyers market with 36 weeks of inventory.

If you would like more information on the Halifax Condo market you can always contact us. info@condo-company.ca

-Andrew

 

 

Halifax Condo Market Update – February 2013 Posted on Mar 01, 2013

Halifax Condo Market Update – February 2013

Figure 1 – All data based on MLS® statistics for areas 1 – 40 which encompass all of HRM

Figure 2 – All data based on MLS® statistics for areas 1 – 40 which encompass all of HRM

Overview

Average Price – Average price for a condo in Halifax took a significant tumble in February.  The price decreased by 8% compared to February last year and down 31% compared to January 2013.  Moving in to the spring market we anticipate prices to increase with more inventory coming to market.

Number of Sales – Sales for Halifax condos were also down in February by 41% compared to February 2012.  However sales were up by 20% compared to january 2013.  We are seeing a slow down in the market for the first two months of the year.  With the spring market  beginning soon look for the number of sales to increase.

If you would like more information on the Halifax Condo market you can always contact us

Andrew

HALIFAX CONDO MARKET UPDATE – JANUARY 2013 Posted on Feb 19, 2013

Halifax Condo Market Update – January 2013

Figure 1 – All data based on MLS® statistics for areas 1 – 40 which encompass all of HRM

 

 

Figure 2 – All data based on MLS® statistics for areas 1 – 40 which encompass all of HRM

Overview

Average Price – Average price for a condo in Halifax increased substantially in January compared to the last couple of years.  Increasing by 37% in 2013, the average price in January was $314,717.  This price increase can be attributed to more high end condos being brought to market in the last couple of years i.e.: The Trillium, Dockside etc..

Number of Sales – The number of condo sales in HRM were down by 29% compared to January 2012.  We are seeing a slight slow down in the market starting out in 2013.  The tightening of the mortgage rules by the federal government has had a big impact on this.

Andrew

Halifax Condo Market Update – December 2012 Posted on Jan 03, 2013

Halifax Condo Market Update – December 2012.

Figure 1 – All data based on MLS® statistics for areas 1 – 40 which encompass all of HRM

Figure 2 – All data based on MLS® statistics for areas 1 – 40 which encompass all of HRM

Overview

Average Price – Average price for a condo in Halifax increased by 26% compared to December of 2011.

Number of Sales – The number of condo sales in HRM were down by 41% compared to December 2011. Again in December month as was the case in November we see a big decrease in the number of sales.  This can be attributed to the speculation in the market surrounding the announcement of the shipbuilding contract possibly being awarded to Halifax.

Be sure to check back next week when we will have a year over year condo market analysis

Andrew and Chris

Halifax Condo Market Update – November 2012 Posted on Dec 05, 2012

Halifax condo market update – November 2012.  The data below is based on MLS® statistics for area 1-40 which encompass all of HRM

Figure 1 – All data based on MLS® statistics for areas 1 – 40 which encompass all of HRM

Figure 2 – All data based on MLS® statistics for areas 1 – 40 which encompass all of HRM

Overview

Average Price – Average price for a condo in Halifax increased by 3.3% compared to November of 2011.

Number of Sales – The number of condo sales in HRM were down by 50% compared to November 2011. This big decrease can be attributed to the announcement of the ship building contract for Halifax.  There was a lot of speculation of how the market would respond to this announcement.  We saw a huge increase in condo sales during this time.

Be sure to check back monthly for Halifax condo market updates.

 

Halifax Condo Market Update – October 2012 Posted on Nov 14, 2012

Halifax condo market update – October 2012.  The data below is based on MLS® statistics for area 1-40 which encompass all of HRM

Figure 1 – All data based on MLS® statistics for areas 1 – 40 which encompass all of HRM

Figure 1 – All data based on MLS® statistics for areas 1 – 40 which encompass all of HRM

Overview

Average Price – Average price for a condo in Halifax increased by 5.4% compared to October of 2011.  The final quarter of 2012 seems to be showing a bit of upward movement in the condo market in Halifax.

Number of Sales – The number of condo sales in HRM were up by 6.6% compared to October 2011. After a slower market in the 3rd quarter, the 4th quarter is off to a good start.

Be sure to check back regularly for Halifax condo market updates.

Halifax Condo Market Statistics Update Posted on Oct 12, 2012

Welcome to the first of our monthly statistics update on the Halifax Condo market.  The data below is based on MLS® statistics for condos in areas 1-40 which encompass all of HRM.  Check back monthly for regular updates.

 Figure 1 – All data based on MLS® statistics for areas 1 – 40 which encompass all of HRM

Figure 2 – All data based on MLS® statistics for areas 1 – 40 which encompass all of HRM
Overview
Average Price – Based on the data presented in the graphs above we can see that the average price for a condo in Halifax  has increased over the first half of the year compared to 2010 and 2011.  Especially in the first quarter which was due in large part to the $25 billion ship building announcement excitement.  The third quarter prices have remained flat in 2012.  It will be interesting to see how the numbers play out for the last quarter of 2012.
Number of Sales – The number of condo sales in HRM say a significant bump at the beginning of the year again due to the announcement of the shipbuilding contract.  Sales remained flat for most of the summer before taking a dip in September.
Be sure to check back regularly for Halifax condo market updates.